Morocco Poised to Become Global Energy Hub, Israeli CEO Says

On the sidelines of the Global Investment Forum organized by The Jerusalem Post in Marrakech, Yossi Abu, CEO of NewMed Energy, said that Morocco is ideally positioned to become a global energy hub, due to its stability, geography and access to Europe. "We believe Morocco has vast potential for natural gas discoveries, mainly in the Moroccan Sahara," he said.

In Morocco, NewMed Energy is investing in three areas: natural gas, renewable energy and hydrogen. Yossi Abu said that this Israeli company recently signed an agreement with Enline, the Israeli leader in renewable energy, and will work with them in the MENA region, including Morocco. The company is also involved in the large-scale development of green and blue hydrogen in the region, it is specified. "We provide a lot of energy to our region, we want to be a major player in Morocco and we are coming to invest," the executive said.

Yossi Abu also said that NewMed Energy has extensive experience in the region, as evidenced by the fact that the company has connected the natural gas networks between Israel, Jordan and Egypt. According to him, the company’s access to significant capital - it has invested some $12 billion in energy development over the past decade - will help it invest in energy in Morocco.