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China-Africa Trade Information Service
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China-Africa Trade Information Service
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Minister of Energy Leila Benali touted on Monday Morocco’s efforts in boosting the country's energy sector.
Benali made her remarks during a session at the House of Representatives, noting that these efforts enabled the establishment of an investment infrastructure to attract investors in the gas sector.
“Morocco is witnessing a major transformation in this sector,” the minister said, noting that this development strengthened the confidence of foreign and Moroccan private investors.
She further highlighted the government’s vision for the gas sector, including the preparation of a roadmap that includes major stages for establishing infrastructure.
Benali recalled that the four ministers and five public institutions signed in March 2024 to coordinate activities in the sector.
She said the government efforts began to “emerge in the middle of the government term with Moroccan and foreign investments encouraging projects in Tendrara and Larache.”
She recalled how a foreign company sold approximately $1billion of its assets in Egypt, Italy, and Croatia to concentrate its investments in Larache.
Benali referenced energy company Energean PLC, which recently announced a divestment of its portfolios in Egypt, Italy, and Croatia, selling them to Carlyle International Energy Partners for up to $945 million to focus on its assets in Morocco.
The company said in June that the move will allow it to concentrate on its expanding operations in Morocco, particularly following its recent farm-in to the Anchois field.
“A Moroccan private company announced an investment of 35 million dollars to accelerate the Tendrara project,” Benali added.
In terms of completed projects in clean energy, Benali said they reached approximately 4,600 megawatts.
She said that licenses have been issued for clean energy projects with a paucity of 2,000 megawatts, noting that an annual investment pace raised from MAD 4 to MAD 15 billion by 2027.
