Rabat, Morocco (TMT)- Leila Benali, Morocco’s Minister of Energy Transition and Sustainable Development, recently announced that the private sector is expected to invest between 4 and 8 billion dirhams in the development of infrastructure related to natural gas. This investment will help the country secure its energy needs, in addition to accelerating the development of renewable energies.
During a recent session in the House of Councillors, Benali responded to a question posed by various political parties about reducing Morocco’s energy bill. She explained that the global economic, financial, and energy situation is currently unprecedented due to disruptions in production and distribution channels, leading to an increase in energy prices, among other factors. Moreover, a decrease in international investments in the energy sector, as well as exports of several energy producers for political, ideological, or other reasons, have hindered the development of many countries, including Morocco.
To address these challenges, Benali highlighted Morocco’s energy-related strategic plan, which includes the country’s first entry into the international market for liquefied natural gas through its connection with Spain. Morocco’s imports of natural gas from Spain have increased by 160% during the first four months of 2023. Benali emphasized that this entry into the liquefied natural gas market has helped accelerate the development of renewable energies, the transition away from fossil fuels and carbon removal, and reducing the energy bill.
Benali also noted that the government is accelerating investments in gas infrastructure, and the private sector is expected to invest between 4 and 8 billion dirhams in the near future. With respect to renewable energies, she explained that the Ministry of Energy granted licenses for several new projects last year, totaling 1000 megawatts of capacity, which represents the highest value of licenses granted in a single year.
The Moroccan Times.
