España se erige como el principal proveedor de gas para Marruecos con una subida del 1.200%
Spain has seen its gas exports to Morocco grow exponentially. This reflects the great confidence that the North African country places in Spain as a gas supplier. This trust is the result of a commercial relationship that has been growing stronger and stronger. It has also contributed to the establishment of a friendly relationship between the two nations, which has been reinforced by the latest High Level Meeting held in Rabat between the two countries. Thus, as the months go by, Spain and Morocco are growing closer, reflecting a solid commercial relationship that is based on trust, respect and friendship between the two. This relationship, which continues to grow, represents a great opportunity for both kingdoms and for the region, making the most of energy resources and contributing to economic development.
Algeria's punishment of Morocco has had a major impact in the region, with repercussions in Spain and the US. This is because the Maghreb gas pipeline, partly managed by the Spanish company Naturgy, is an important source of gas supply. Therefore, when Algeria decided to suspend gas supplies to Morocco, Spain was forced to look for other sources of supply, including the United States. This has meant that Spain is now dependent on other countries to meet the Kingdom's gas demand. In addition, Algeria also threatened to break its gas contract with Spain if Spain turned to other territories to supply Morocco. This threat has meant that Spain has had to take measures to guarantee gas supplies to Morocco without breaking its contract with Algeria.
The exponential increase in energy exports from June 2022 to March 2023 is a reflection of Spain's economic recovery, as well as the increasing trend towards the use of renewable energy. This has contributed to a rise in energy prices, but has also made Spain less and less dependent on fossil fuels. An increasing trend in electricity exports has been observed over the last few months. Exports have risen from 172 gigawatt hours in July to 680 gigawatt hours in February, an increase of 298%.
The Iberian mechanism has allowed Morocco to receive gas from Spain at a much more competitive price, which has boosted Moroccan demand. This is because the Alawi kingdom is considered a buyer within Spanish territory, so the financing of the Iberian exception is passed on to it as if it were a consumer in Spain. This allows Morocco to arbitrate between pool prices in Spain and power generation prices within its territory. Thus, when Morocco finds an interesting price, it activates imports.
Mohammed VI, King of Morocco, said: ''In the Kingdom, we have always had a close relationship with Spain, and we want to strengthen our friendship and cooperation for the benefit of both countries. We are prepared to significantly increase our gas purchases from Spain to meet our energy needs, especially in the context of the crisis with Algeria. This will contribute to the economic stability of both parties and to Morocco's energy security".
The agreement has focused on commercial exchange, with increased trade flows between the two countries, the establishment of bilateral agreements and the strengthening of ties between companies and governments. In addition, measures have been agreed to reduce trade barriers, such as the elimination of tariffs, the facilitation of customs procedures and the development of infrastructure. These measures allow both countries to take full advantage of the enormous potential offered by their markets.
