Spain’s gas exports to Morocco grow 10 times

Spain’s gas exports to Morocco have experienced significant growth, reflecting the North African country’s confidence in Spain as a gas supplier. The strong commercial relationship between the two nations has also contributed to the establishment of a friendly relationship, which was reinforced by a recent High Level Meeting in Rabat.

Algeria’s suspension of gas supplies to Morocco has had a major impact on the region, affecting Spain and the US due to the Maghreb gas pipeline, partly managed by the Spanish company Naturgy, being an important source of gas supply. Spain was forced to look for alternative sources of gas supply, including the United States, leading to the country being less dependent on fossil fuels.

However, Algeria also threatened to break its gas contract with Spain if Spain turned to other territories to supply Morocco. This has led Spain to take measures to guarantee gas supplies to Morocco without breaking its contract with Algeria.

The significant increase in energy exports from Spain to Morocco between June 2022 and March 2023 is a reflection of Spain’s economic recovery and increasing trend towards the use of renewable energy. Although this has contributed to a rise in energy prices, it has made Spain less dependent on fossil fuels. The Iberian mechanism has allowed Morocco to receive gas from Spain at a more competitive price, boosting Moroccan demand.

Morocco has expressed a desire to strengthen the friendship and cooperation between the two countries, particularly in the context of the crisis with Algeria. Morocco is prepared to significantly increase its gas purchases from Spain to meet its energy needs, contributing to the economic stability of both parties and to Morocco’s energy security.