Chariot Limited Strikes Key Gas Deal in Morocco

Chariot Oil & Gas (GB:CHAR) has released an update.

Chariot Limited, an Africa-focused transitional energy group, has entered a strategic Heads of Terms agreement with Vivo Energy to supply natural gas to Moroccan industries from its Loukos Onshore license. The partnership aims to establish a gas to industry business, develop a CNG distribution network, and potentially create a midstream CNG partnership, with Chariot eyeing up to a 49% stake in the venture. The initiative, aligning with Morocco’s decarbonization goals, looks to leverage Chariot’s drilling successes and Vivo Energy’s established market presence to meet the energy needs of Moroccan industries.

For further insights into GB:CHAR stock, check out TipRanks’ Stock Analysis page.