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Morocco becomes top buyer of Spain LNG amid rising energy demand

August 23, 2024 at 4:07 pm

View of the Enagas regasification plant at the Liquefied Natural Gas (LNG) terminal of the port of Barcelona on December 15, 2022 [JOSEP LAGO/AFP via Getty Images]

In a significant development for the energy sector, Morocco has emerged as the leading buyer of Spanish liquefied natural gas (LNG). This marks a notable shift in regional energy dynamics, underscoring Morocco’s growing energy needs and its strategic partnership with Spain.

According to the latest data, Morocco has surpassed other nations to become the top importer of Spanish LNG, driven by a combination of increasing domestic energy consumption and efforts to diversify its energy sources. The demand for natural gas in Morocco has been steadily rising, particularly in the power generation sector, as the country seeks to reduce its dependence on coal and oil.

Spain, with its well-established LNG infrastructure and proximity to North Africa, has become a key supplier to Morocco. The two countries have strengthened their energy ties, with Spanish LNG playing a crucial role in meeting Morocco’s energy requirements.

This development is part of Morocco’s broader strategy to enhance its energy security and support its ambitious plans for economic growth. The increased import of LNG from Spain is expected to provide Morocco with a reliable and flexible energy source, essential for powering industries and households across the country.

The rise of Morocco as the top buyer of Spanish LNG also reflects the shifting energy landscape in the Mediterranean region, where geopolitical factors, market dynamics and environmental considerations are reshaping traditional energy trade routes.

As Morocco continues to expand its energy infrastructure and invest in renewable energy, its reliance on LNG is likely to remain a key component of its energy strategy in the coming years.

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