- Chariot has entered into a partnership agreement with Vivo Energy.
- Vivo Energy has a long-standing presence in Morocco’s petroleum products sector, operating a network of over 400 service stations.
Chariot Limited has entered into a partnership agreement with Vivo Energy to create a midstream joint venture that will oversee natural gas distribution to industrial customers in Morocco. Vivo Energy has a long-standing presence in Morocco’s petroleum products sector, operating a network of over 400 service stations and supplying commercial and industrial customers across several sectors.
Chariot said that the partnership’s objectives would be to implement a gas-to-industry business in Morocco through the development of natural gas marketing and commercialisation to industrial customers and establish a jointly owned particular purpose vehicle for the purchase, transportation and distribution of natural gas to end-users.
The company added that the JV would also place a long-term gas sales agreement for a portion of the future gas production from the Anchois development project. “We are delighted to be partnering with Vivo Energy, a company that has an extensive footprint in Morocco and the African continent, to develop and deliver a long-term supply of natural gas across the rapidly growing industrial sector in the country.”
Stan Mittelman, Vivo Energy CEO, said, “We are very pleased to be entering into this partnership. We will work closely with Chariot to jointly leverage our position in Morocco, allowing us to offer a cleaner and more competitive energy source for our industrial customers,”
“Partnering with Vivo Energy to deliver this gas to industry creates additional scope for future production from Anchois. A key part of our Morocco strategy is promoting energy self-sufficiency and being a catalyst for growth. We are very pleased to work together to deliver this important domestic resource directly into the country’s gas-hungry industrial sector,” Pierre Raillard, Chariot Morocco Managing Director, concluded.