While some demonize fossil fuels and fossil fuel companies, others recognized their importance.
U.K. firms spearhead Morocco’s natural gas ambitions
As Morocco’s domestic demand for gas grows, the country aims to expand its production while reducing reliance on coal power, offering tax breaks to exploration companies. Around 70% of domestic output is produced by SDX Energy, the only international company currently producing gas in the country.
But London-listed peers Sound Energy, Chariot Ltd. and Predator Oil & Gas Holdings have plans to dramatically increase Morocco’s gas production, meeting domestic demand and potentially exporting the surplus to Europe. U.S. oil major ConocoPhillips has also recently landed in Morocco to carry out hydrocarbon exploration…
As part of this roadmap, the government presented new regulation for the downstream gas sector and announced plans to deploy additional gas transport and storage infrastructure. “Morocco is hungry for energy, hungry for power. Their industrial needs are growing dramatically,” Chariot Chief Executive Officer Adonis Poroulis told Dow Jones Newswires.