Sound Energy to collaborate with AFG for the commercialization of gas

Sound Energy PLC, said on Monday that the Morocco-focused gas junior has received an offer from investors. The London-based Mediterranean exploration and production company that the funding proposal «comes from Advisory and Finance Group Investment Bank (AFG), a Moroccan financial institution that funds Oil and Gas Investment Fund (OGIF), Sound’s partner, and soon-to-be major shareholder», indicates the company.

The funding might provide US$ 60 to 100 million to construct a pipeline for the Gazoduc Maghreb Europe pipeline connecting Tendrara to regional infrastructure such as southern Europe.

The building of the abovementioned pipeline will be a primordial step in the commercialization of the Tendrara project. «the AFG proposal was made on behalf of a range of institutions, including shareholders of OGIF, and that some of these investors may also be prepared to support the funding of gas processing facilities», concludes Proactive Investors.