February 26, 2023 – 8:00 PM – Economy
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The import of gas into Morocco via the Maghreb-Europe gas pipeline (GME) from Spain is running at full speed. Morocco has already imported 1512 GWh of gas in seven months.
Imports of Moroccan gas from Spain through the GME pipeline started last June and quadrupled in seven months to 1512 GWh. To fill the energy gap created by Algeria’s unilateral closure of GME, Rabat has signed an agreement with Madrid for the transportation of liquefied natural gas (LNG), which is purchased on the international market and transformed in Spanish regasification plants.
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Spikes in gas imports were recorded in August, September and October, reports EFE. Spain has become an exporter of electricity for the first time since 2015 and has almost doubled its net electricity production compared to 11,777 GWh in 2008. At the end of 2022, according to data from system operator REE, Spain had a positive balance (exports minus imports ) of 19 billion MWh.
In the last seven months of 2022, Morocco exported less electricity to Spain, 1404 GWh, compared to 0.5 GWh in the same period of the previous year. According to the Moroccan Ministry of Economy and Finance, electricity consumption between July and November last year was 11,700 GWh and Spanish electricity exports covered 9.5% of demand, up from just 2.7% the year before.
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Morocco has benefited in recent years from the Covid-19-induced drop in international energy prices. The Moroccan Electricity and Water Company ONEE produces 25% of the kingdom’s total energy, of which 85% comes from thermal power stations operated by private individuals. The Kingdom has also been investing in renewable energy since 2010. By the end of 2021, according to data from consultancy firm ICMEX, around 4000 MW of green energy had been produced.
