Spain could do without Algeria, which has gone from being the Iberian peninsula’s main gas supplier to its second supplier. It is now surpassed by the United States, after the closure of the Maghreb-Europe gas pipeline crossing Morocco. Madrid is now reducing its dependence on Algerian gas.
Morocco and Spain have finally reached an agreement to allow the kingdom to import gas via the Maghreb-Europe gas pipeline (GME).
Morocco denounces the attitude of Algeria, which is trying to block by all means the implementation of its agreement with Spain to transport gas purchased on international markets via the Maghreb-Europe gas pipeline (GME).
The British company Sound Energy has extended its binding gas sale and purchase agreement (the "GSA") concerning the development of phase 2 of the Tendrara production concession with the National Office of Hydrocarbons and Mines (ONHYM).
Algeria is maintaining pressure on Spain, which must not export any gas to Morocco via the Maghreb Europe pipeline.
The head of the Spanish government, Pedro Sanchez, expressed to the Algerian president, Abdelmadjid Tebboune, on Sunday his willingness to strengthen energy cooperation between their two countries.
The soaring fuel prices and unfair competition in the sector have prompted distributors and depots of butane and propane gas in Morocco to react. They are calling on the ministries concerned by the situation to react urgently before the situation worsens.
With a production share exceeding that of natural gas production, wind power is now the second largest source of electricity production in Morocco. The kingdom is thus affirming its determination to find an alternative to Algerian gas.
Algeria could reactivate the Maghreb-Europe gas pipeline crossing Morocco, whose contract it refused to renew when it expired on October 31, to supply gas to Europe during this Ukrainian crisis period. Sonatrach CEO Toufik Hakkar has also announced that his company is willing to provide more gas to Europe, in the event of a drop in Russian exports.
Faced with the rise in world prices, particularly for oil, gas and food, the Moroccan economy is being put to the test. The government will have to review its priorities to get the kingdom out of the impasse.
The Israeli company NewMed Energy is seeking to obtain licenses from the Moroccan authorities to explore gas and oil in the kingdom.
The port of Mohammedia will soon be equipped with a new gas terminal. The studies for the project will be carried out by the CID-Artelia SAS-Principia-Artelia Industrie group, the winner of the tender launched last January.