Monday, July 1, 2024 at 7:40 p.m.
Rabat – The efforts deployed during the mid-term of the current government have enabled the development of an investment ecosystem capable of attracting investors into the gas sector and exploring its deposits in the Oriental region, in Tendrara, and Larache, said Monday the Minister of Energy Transition and Sustainable Development, Leila Benali.
In response to a question on “the development of gas exploration and its new features” asked by the Authenticity and Modernity (PAM) group during a session devoted to oral questions in the House of Representatives, Ms. Benali stressed that Morocco is experiencing a major transformation in this sector, “which has strengthened the confidence of foreign and Moroccan private investors.”
The ministry has developed a comprehensive vision for the natural gas sector by updating the strategy for the sector and preparing a roadmap that includes the main stages of infrastructure creation, she said, 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 materialize in the middle of the government’s term, with Moroccan and foreign investments encouraging the Tendrara and Larache projects,” the minister said, noting that this year, “a foreign company sold nearly a billion dollars of its assets in Egypt, Italy and Croatia to concentrate its investments in Larache, and a private Moroccan company announced an investment of 35 million dollars to accelerate the Tendrara project.”
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