Ms. Benali said in a video speech during the third edition of the Moroccan Oil and Gas Summit, which was held over two days, that Morocco is viewed as a pioneer in the development of renewable energies, and is strongly involved in efforts to mitigate greenhouse gas emissions.
She highlighted that providing Morocco with low-carbon renewable energy is a major priority, adding that “we must double our annual investments in renewable energy in addition to strengthening the electrical grid and investing more in storage and flexibility sources such as natural gas.”
The Minister pointed out that the ongoing crises, related to geopolitical shocks, price volatility, the dramatic rise in inflation, and the decline in growth, require building a more flexible and sustainable social and economic model.
She said, “In order to build a more resilient energy system, we look forward to investing between 1 and 2 billion US dollars annually, in partnership with the private sector, on a continuous and consistent basis,” stressing that achieving this goal requires a strict, practical and comprehensive approach.
Mrs. Leila Benali also touched on the issue of financing, considering that the industrialized countries have already put in place strong incentives to push actors and economic actors to be ambitious in the process of transformation in the field of energy.
In this context, she stressed that the separation between the North and the South over the issues of climate change and energy transition cannot once again be tolerated, highlighting that financing the energy transition is a global issue.
The Minister stressed the importance of providing cross-border incentives, so that developers in southern countries can access these funds, noting that Morocco is a close partner of the United States and the European Union.
This international event represents an opportunity to discuss topics related to oil and gas exploration in Morocco, the land and sea capabilities of the Atlantic coast and the Mediterranean Sea in this field, as well as gas transportation infrastructure projects, investment opportunities, as well as issues of energy challenges on the African continent.
This event will also discuss transportation infrastructure (the Nigeria-Morocco gas pipeline project and the Maghreb-European gas pipeline), in addition to activating and organizing presentations dedicated to the countries crossed by the Nigeria-Morocco gas pipeline.
On the sidelines of this summit, the committee in charge of the Nigeria-Morocco gas pipeline project will hold its meetings, in the presence of representatives of all the countries through which it passes, the Commissioner for Infrastructure, Energy and Digitization, as well as the Director of Energy and Minerals of the Economic Community of Southern African States.