Petroleum Africa
Find us on: 
Tuesday, November 2, 2021
Sound Energy has announced 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 (LNG SPA), for the TE-5 Horst development at the Tendrara Production Concession, announced by the Company on July 29, 2021 are required to be satisfied until November 30, 2021.
As announced on July 29, 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.”
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
