Morocco to Enter Energy Market, Emphasizes Natural Gas in National Strategy

In her opening address, the Minister of Energy Transition and Sustainable Development, Leila Benali, announced that Morocco is preparing to enter the energy market and is actively working to implement its energy strategy and have strategic reserves.

Thus, for the first time, the Kingdom plans to join the energy market. "This Ramadan, Morocco will enter the energy market for the first time," announced Leila Benali. Referring to the Russian-Ukrainian crisis and the Covid-19 pandemic, she stressed that all countries, including Morocco, are suffering the consequences of geopolitics and the repercussions of the Covid-19 pandemic.

"We are extremely concerned about the energy situation in the world," added Fatih Birol, Executive Director of the International Energy Agency (IEA). He predicts a "very difficult gas crisis and as a consequence very high electricity prices".

For his part, the Minister of Industry and Trade, Ryad Mezzour, indicated that "this is the first time in history that Morocco has signed an energy contract. We want gas at a competitive price, we are not asking for anything other than being able to buy gas at the same price as our Mediterranean neighbors, especially Europeans," he said.