Page 12 - AfrOil Week 44 2021

AfrOil PROJECTS & COMPANIES AfrOil

Meanwhile, a year ago, TechnipFMC completed Meanwhile, the European Bank for Recon-
preparations for engineering, procurement and struction and Development (EBRD) is pro-
construction (EPC) of a new hydrocracker at the viding $250mn backing for a similar project to
facility. expand the capacity of the 100,000 bpd Middle
The overall project will increase the refin- East Oil Refinery (MIDOR) near Alexandria to
ery’s throughput capacity from 100,000 bpd 160,000 bpd, which El-Molla has said will be
to 160,000 bpd and raise the output of Euro-5 partially commissioned next year.
standard products. The expansion includes the The EBRD is also providing a $50mn loan
construction of new crude and vacuum dis- to upgrade the Suez refinery to produce cleaner
tillation units (CDU & VDU), a diesel hydro- fuels and reduce emissions.
treater, a hydrogen unit, solvent de-asphalting. Egypt is hoping to become self-sufficient in
The capacities of existing naphtha hydrotreater, petrochemicals by 2023, with the wider down-
naphtha splitter, isomerisation, hydrocracker, stream investment programme entailing a
LPG treatment & recovery and sulphur plants $14bn spend on both refining and petrochem-
are also being expanded. icals. ™

Sound Energy, Afriquia Gaz revise

deadline for signing LNG agreement

MOROCCO UK-BASED Sound Energy has reached agree- had explained in July that these preconditions
ment with Afriquia Gaz (Morocco) on pushing included signing a credit agreement under
back the deadline for meeting the preconditions which Sound Energy would take out an $18mn
for signing the Phase 1 LNG sale and purchase secured loan from Afriquia Gaz with a 12-year
agreement (SPA) covering future supplies from repayment term and a 6% annual interest rate.
a small-scale natural gas liquefaction plant The partners were also supposed to execute
slated for construction at the Tendrara licence a project contract with Italfluid Geoenergy
area in eastern Morocco. (Italy) for the construction of a gas-processing
In a statement, Sound Energy said that the and liquefaction plant for Phase 1 develop-
parties had agreed to postpone the end date until ment. Additionally, Afriquia Gaz was required
November 30. to secure agreement in principle for the sale of
According to previous reports, the two com- at least 60% of minimum take-or-pay volumes
panies had said previously that execution of the to downstream buyers and obtain regulatory
SPA would depend on their ability to meet cer- approval for the transport of LNG via tankers
tain conditions by October 29. and the sale of LNG.
The extension of the deadline will not affect Sound Energy did not divulge any details
the nature of the preconditions for signing about the progress of efforts to meet these
the SPA, Sound Energy noted. The company preconditions.

The TE-5 Horst field will provide gas for a micro-LNG plant (Photo: Sound Energy)

P12 www. NEWSBASE .com Week 44 03•November•2021