Moroccan state-owned power utility ONEE has picked HSBC Middle East Limited as financial adviser for its plan to boost its imports of liquefied natural gas (LNG), ONEE said in a statement this week.
It has also chosen the law firm Ashurst LLP as legal adviser for the same plan.
The HSBC contract is worth $7mn while Ashurst will earn around $2mn, the statement said.
The entire project, worth up to $4.6bn, includes the import of up to 7bn cubic metres (bcm) of gas by 2025, the construction of a jetty, terminal, pipelines and gas-fired power plants.
