Details of a new report Morocco’s potential as a gas exporting country
Nigeria, Egypt, Libya, and Algeria may be surpassed by other nations, according to the Global Energy Monitor report, which tracks oil and gas conditions around the world.
According to the non-governmental organization, monitoring data reveals that 84% of the newly discovered reserves are found in new gas-producing nations in Africa, such as Mozambique, Senegal, Tanzania, Mauritania, South Africa, Ethiopia, and Morocco.
According to the organization, Morocco currently has gas reserves of around 39 billion cubic meters, whereas Mauritania has 574 billion cubic meters of reserves, including a portion from joint reserves with Senegal that are estimated to be 566 billion cubic meters.
Global Energy Monitor expects that these nations will hasten the short-term development of gas production in its report.
It even predicts that by 2038, more than half of the gas produced in Africa will come from Mozambique, Mauritania, Tanzania, South Africa, and Ethiopia.
Graham Lyon, CEO of the British Sound Energy company in charge of oil and gas exploration in Morocco, stated in an interview that “Morocco has a great wealth of natural gas reserves, which will help it achieve self-sufficiency, and even move to Exporting gas to international markets.” By the end of December 2022.
At the time, Lyon reaffirmed that “two major projects are under study and implementation, one of which is related to the supply of liquefied natural gas to the main industrial markets, and the other includes the development of a gas pipeline to supply the electricity markets with gas.”
According to Global Energy Monitor, $329 billion in investments are needed to realize projects in African nations and to produce the desired results for governments. These investments will enable gas extraction and the development of suitable infrastructure for export.
These countries have new reserves totaling more than 5.138 billion cubic meters, which could result in potential emissions of 11.9 billion tons of carbon dioxide, posing a significant environmental challenge.