THE Morocco, like many African countries, is at a crucial turning point in its energy development. Faced with the growing need to diversify its energy sources while reducing its carbon footprint, the country is turning more and more towards gas resources. It is in this context that the group Managementa major player in the mining and energy sector in Moroccoannounces a major strategic initiative: the creation of an industrial natural gas division and the acquisition of Sound Energy Morocco East Ltd.
The announcement of this acquisition, which notably concerns 55% of the Tendrara operating concession, is a significant step for Managem. Imad Toumi, Chairman and CEO of the group, underlines the strategic importance of this approach: “Sound Energy Plc chose Managem after an open and competitive process, thus recognizing our ability to effectively develop and manage this crucial project for the Moroccan energy sector. . »
The project Tendrara, although modest in size compared to certain international installations, will play an essential role in Morocco’s energy independence. The first phase of the development, currently under construction and planned to be operational from mid-2025, will produce 100 million cubic meters of Liquefied Natural Gas (LNG) per year. This production is intended to meet the growing needs of national manufacturers for clean and affordable energy.
At the same time, a second phase is being studied to expand production capacities. It includes the construction of a processing unit and a pipeline connecting the Maghreb-Europe gas pipeline (GME), aiming to supply up to 280 million cubic meters of natural gas per year. This ambitious development will not only strengthen Morocco’s energy security, but also contribute to its efforts to reduce greenhouse gas emissions.
Financially, the agreement between Management And Sound Energy plans an initial investment of approximately US$12 million, with additional commitments for Phase 2 of the project reaching up to US$24.5 million. These funds will be deployed subject to obtaining the necessary regulatory approvals, underscoring the rigorous commitment of both parties to respecting local standards and procedures.
The potential of this project is not limited to Morocco. Indeed, Management is already planning to strengthen its presence in the gas sector through other initiatives in Africa, in accordance with its regional diversification strategy. This expansion positions the group not only as a local leader in gas exploitation, but also as a catalyst for sustainable energy development on the continent.
Located in the eastern province of Moroccothe portfolio of gas assets covered by this transaction extends over a substantial area, illustrating the significant potential for future growth for Managem. The concession of Tendrara, with its reserves estimated at 10.67 billion cubic meters of natural gas, represents a strategic resource for the country’s energy future.
