Morocco becomes top buyer of Spanish regasified gas

The Maghreb-Europe Gas Pipeline (GME) resumed operations in reverse flow on June 28, 2022. In the past two years, Morocco has become one of the main customers of Spanish regasification facilities.

Since the beginning of the year, deliveries to Morocco have accounted for 16.5% of all Spain's natural gas re-exports, significantly surpassing the 12.5% share achieved in 2023, reported Iberian media. The record was broken in January, when Morocco became the top importer of gas processed in Spain, accounting for 28% of all re-exports that month.

The regasification of Moroccan gas purchases brings Spain an estimated €2 million annually, according to the government's response to a written question from People’s Party members of parliament. This figure does not include fees for ship unloading, LNG storage, and gas network usage, the government added.

Morocco expects its reliance on Spanish regasified gas to continue for a few years. On May 31st, they announced a tender for the construction of a floating LNG terminal at the future port of Nador West Med.