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Morocco's untapped gas potential faces mounting domestic demand
Despite active exploration efforts and international investment, Morocco's quest to develop substantial natural gas resources continues to yield modest results in the face of rising domestic energy consumption. Sound Energy CEO Graham Lyon highlighted the challenges and opportunities in the country's gas sector during a recent Attaqa interview.
While Morocco presents favorable conditions for exploration companies, significant gas discoveries remain elusive. This reality was underscored by Energean's recent withdrawal from the Anchoa offshore project, where discovered reserves of 18 billion cubic meters proved insufficient for commercial development.
Current domestic gas production stands at approximately 100 million cubic meters annually from small fields, falling well short of national requirements. To meet demand, Morocco imports roughly 1 billion cubic meters per year, primarily through the Maghreb-Europe pipeline from Spain.
The pressure to develop domestic resources is intensifying as the National Office of Electricity and Drinking Water forecasts substantial growth in natural gas consumption. Projections indicate demand will reach 1.7 billion cubic meters by 2030 and climb to 3 billion cubic meters by 2040.
Despite setbacks, Lyon maintains optimism about Morocco's gas potential, noting that many basins remain unexplored. Sound Energy continues its exploration efforts, driven by the urgent need to establish stable domestic supply sources as Morocco seeks to reduce import dependency amid growing energy demands.