The Ministry of Energy Transition and Sustainable Development and the International Finance Corporation (IFC) signed, Monday in Rabat, an agreement to update the national natural gas roadmap and to establish a public-private partnership for sustainable gas infrastructure development. This will help the country achieve its goal of 52% renewable electricity capacity by 2030.
In a statement, the ministry emphasized the importance of natural gas in Morocco’s energy transition and decarbonization strategy. Due to its low carbon content and versatility, natural gas facilitates the deployment of intermittent renewable energy, improves the stability and efficiency of the country’s power system, and is an alternative to fuel oil in power generation and energy-intensive industries.
In 2022, Morocco succeeded in optimizing the existing regional infrastructure to access the international LNG market for the first time in its history, underlined the same source, adding that the second phase of this strategy consists of strengthening domestic gas infrastructure in order to secure gas supply and connect entry sources to consumption basins.
IFC, a member of the World Bank Group, will assist the ministry with feasibility studies, the transparency of the bidding process, infrastructure development, and the financing and selection of operational partners.
The project’s integration of private sector capital and international expertise for a sustainable gas market will form the backbone of the future hydrogen economy, according to Minister of Energy Transition and Sustainable Development, Leila Benali.
Morocco is working towards carbon neutrality by increasing renewable energy and sustainable natural gas exploitation. This partnership will accelerate public-private partnerships and infrastructure development in the nation’s quest for ecological transition and development objectives, stated IFC vice-president for Africa, Sérgio Pimenta.