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Spanish gas grid operator Enagas said on Tuesday it expects to invest 4.76 billion euros ($4.77 billion) by 2030 on projects to ensure security of energy supply and decarbonisation. Under its strategic plan to 2030, the company aims to spend nearly 2.8 billion euros on projects including gas infrastructure, renewable hydrogen and biomethane production. When interconnector projects such as an underwater gas pipeline between Spain and Italy and a gas link between Spain and Portugal are added, the total investment sum comes to 4.76 billion euros, Enagas said.
Sound Energy Plc has handed over the contract for building and operating a pipeline and processing facility at its gas asset in Eastern Morocco, to the Enagas consortium. The consortium will be conducting the front-end engineering and design (FEED), construction and operation for 15 years, under a 'build-own-operate-transfer' (BOOT) structure. This will help Sound Energy to commercialize their existing and future gas resources in Eastern Morocco.