Predator says to submit bid for Morocco FSRU project

UK-listed Predator Oil & Gas is submitting a bid to build and operate a floating storage and regasification unit in Morocco in order to import LNG into the African country.

The move follows a call for expressions of interest issued by Morocco’s energy ministry on April 29, Predator said on Monday. Companies can submit bids by May 31.

The initial scope of the FSRU project includes an annual requirement of 1.1 Bcm by 2025 rising to 1.7 Bcm in 2030 and 3 Bcm in 2040, according to Predator.

Predator has already a 75 percent interest in the Guercif licence in Morocco. Located onshore norhtern Morocco, it comprises of four exploration permits.

The firm says the FSRU project does not compete with its short- and medium-term plans to develop gas in the Guercif licence.

“It is potentially a complementary addition to the company’s business development strategy for Morocco to increase both materiality and the potential for future gas exports to Europe once the domestic Moroccan gas market reaches capacity,” Predator said.

In addition to this project, Predator is also working on a 2.6 Bcm/year FSRU-based terminal in Ireland.

Predator said it continues to hold talks regarding additional collaboration agreements with European companies specifically in relation to the FSRU concept both in Ireland and Morocco.

These may lead to further announcements in the coming weeks, the firm said.

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