Morocco picks advisers for LNG import plan

The HSBC contract is worth $7mn while Ashurst will earn around $2mn

The entire project of importing LNG is worth up to $4.6bn.
The entire project of importing LNG is worth up to $4.6bn.

Moroccan state-owned power utility ONEE has picked HSBC Middle East Limited as financial adviser for its plan to boost its imports of liquefied natural gas (LNG), ONEE said in a statement this week.

It has also chosen the law firm Ashurst LLP as legal adviser for the same plan.

The HSBC contract is worth $7mn while Ashurst will earn around $2mn, the statement said.

The entire project, worth up to $4.6bn, includes the import of up to 7bn cubic metres (bcm) of gas by 2025, the construction of a jetty, terminal, pipelines and gas-fired power plants.

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