According to Reuters, ONEE – the Moroccan state-owned power utility – has selected HSBC Middle East Ltd as a financial adviser for its plan to increase LNG imports.
In addition to this, Reuters reports that, for the same plan, ONEE has chosen Ashurst LLP as the legal adviser.
Reportedly, the contract with HSBC is worth US$7 million. Ashurst, meanwhile, is set to earn approximately US$2 million.
Overall, Reuters reports that the project is worth up to US$4.6 billion. The project includes the import of up to 7 billion m3 of gas by 2025, as well as the construction of gas-fired power plants, a jetty, a terminal and pipelines.