Energy Minister: Moroccan Gov’t Efforts Helped Attract Investors to Gas Sector

The Moroccan Government’s efforts during the current mid-term have enabled the development of an investment ecosystem capable of attracting investors to the gas sector and exploring its deposits in the Eastern region, Tendrara and Larache, said ,on Monday, Minister for Energy Transition and Sustainable Development, Leila Benali.

Benali stressed, during question time at the House of Representatives, that Morocco is currently undergoing a major transformation in this sector, "which has boosted the confidence of foreign and Moroccan private investors".

The Ministry has developed a comprehensive vision for the natural gas sector by updating the sector strategy and preparing a roadmap that includes the main steps for creating infrastructure, she added, noting that in March 2024, a memorandum of understanding was signed between four ministries and five public institutions to coordinate actions in the sector, in addition to organizing a workshop for the Moroccan and international private sector on May 31, 2024 "to present the new vision, including the acceleration of gas projects in Tendrara and Larache".

These efforts "began to take shape midway through the government's term, with Moroccan and foreign investments encouraging the Tendrara and Larache projects," the Minister pointed out, noting that this year, "a foreign company sold nearly a billion dollars worth of its assets in Egypt, Italy and Croatia to concentrate its investments in Larache, besides a private Moroccan company announced a $35 million investment to accelerate the Tendrara project."

Thu 15:00
broken clouds
29.04
°
C
Fri
24.04
mostlycloudy
Sat
24.53
mostlycloudy
Sun
23.98
mostlycloudy
Mon
24.17
mostlycloudy
Tue
24.66
mostlycloudy