Sound Energy Announces Phase 1 Development LNG Agreement Extension

Source: www.gulfoilandgas.com 11/1/2021, Location: Africa

Sound Energy, the energy transition company, announces that Afriquia Gaz and Sound Energy have agreed an extension to the period during which the contractual conditions precedent to the Phase 1 LNG Sale & Purchase Agreement announced by the Company on 29 July 2021 (the "LNG SPA") are required to be satisfied until the 30 November 2021.

As announced on 29 July 2021, the LNG SPA is conditional upon fulfilment of certain conditions precedent and the extension now agreed is expected to allow those conditions precedent not yet satisfied, relating to the plant development contract, financing and remaining regulatory approvals to be documented contemporaneously.

Graham Lyon, Sound Energy's Executive Chairman, commented:

"Much work has been completed in the last months to conclude all conditions precedent to the LNG SPA in London, Rabat and Pescara. We are confident that all conditions precedent to the LNG SPA will be satisfied and FID and the 'Notice to Proceed' with Phase 1 development can be announced and all contracts executed."


Nigeria >>  6/28/2022 - Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter in Africa, is pleased to announce that...
Denmark >>  6/27/2022 - Following the further invasion of Ukraine, Russia continues to use natural gas as a political and economic weapon. Russia's energy coercion has put p...

Egypt >>  6/27/2022 - Minister of Petroleum and Mineral Resources Tarek El Molla has met with Secretary General Ali Sabt Bin Sabt of the Organization of Arab Petroleum Expo...
Nigeria >>  6/27/2022 - The British independent energy company Savannah Energy PLC is pleased to announce that Central Horizon Gas Company Limited ("CHGC"), a subsidiary of A...

Australia >>  6/24/2022 - Key points:
The Gas Sales Agreement (GSA) negotiation period with CleanCo Queensland Limited (CleanCo) has been extended until the earlier of e...

Ukraine >>  6/23/2022 - EBRD lends Moldova 300 million to boost energy security through strategic gas acquisitions - Revolving loan will be on-lent to state-owned energy tr...




Gulf Oil and Gas
Copyright 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.