REG - Chariot Limited - Pipeline Tie-in Agreement Signed in Morocco

ChariotAnnouncement

07/09/2022 07:00

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RNS Number : 5112Y  Chariot Limited  07 September 2022

 

 

7 September 2022

 

Chariot Limited

("Chariot", the "Company")

 

Pipeline Tie-in Agreement Signed in Morocco

Moving Anchois Gas Project closer to FID

 

Chariot Limited (AIM: CHAR), the African focused transitional energy company,
is pleased to announce it has signed a Pipeline Tie-In Agreement with the
Office National des Hydrocarbures et des Mines ("ONHYM") securing access to
the major Maghreb Europe Gas Pipeline ("GME") in Morocco. The GME, owned and
operated by ONHYM, runs from eastern Morocco through to Tangiers in the north
and subsequently across to Spain. This agreement will enable the gas produced
from the Anchois Gas Project, offshore Morocco, to be transported via the GME
to different potential offtakers.

 

Pierre Raillard, Head of Gas Business & Morocco Country Director at
Chariot, commented:

 

"I am very pleased to announce the signing of this Pipeline Tie-In Agreement
with our partner on the Lixus licence, ONHYM. This moves Chariot a step closer
towards delivering first gas from the Anchois gas field to potential customers
using the GME pipeline. The Anchois Gas Project is a highly strategic asset
given the continued volatility of global energy markets and combined with its
proximity to the international GME pipeline, we are well placed to bring gas
online as quickly as possible."

 

This announcement contains inside information for the purposes of Article 7 of
EU Regulation 596/2014, as retained in the UK pursuant to S3 of the European
Union (Withdrawal) Act 2018.

 

 

 

Enquiries

 

 Chariot Limited                                  +44 (0)20 7318 0450

 Adonis Pouroulis, CEO

 Julian Maurice-Williams, CFO

 Cenkos Securities Plc (Nomad and Joint Broker)   +44 (0)20 7397 8900

 Derrick Lee, Adam Rae

 Peel Hunt LLP (Joint Broker)                     +44 (0) 20 7894 7000

 Richard Crichton, David McKeown

 Celicourt Communications (Financial PR)          +44 (0)20 8434 2754

 Mark Antelme, Jimmy Lea

 

NOTES FOR EDITORS:

 

About Chariot

 

Chariot is an African focused transitional energy group with three business
streams, Transitional Gas, Transitional Power and Green Hydrogen.

 

Chariot Transitional Gas is focused on a high value, low risk gas development
project offshore Morocco with strong ESG credentials in a fast-growing
emerging economy with a clear route to early monetisation, delivery of free
cashflow and material exploration upside. Chariot Transitional Power, is
looking to transform the energy market for mining operations in Africa, by
providing a giant largely untapped market with cleaner, sustainable, and more
reliable power. Chariot is also partnering with Total Eren and the Government
of Mauritania on the potential development of a 10GW green hydrogen project,
named Project Nour.

 

The ordinary shares of Chariot Limited are admitted to trading on the AIM
under the symbol 'CHAR'.

 

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