Morocco is in the process of launching a $4.6 billion natural gas project

Morocco will soon accept bids for a $4.6 billion natural gas project, reports Bloomberg on Sunday quoting Energy Minister Aziz Rabbah. In an interview in Abu Dhabi, he said that the Kingdom is intending to «process gas for power and provide gas to industry».

«This is a project to build an integrated plant to process gas», he said indicating that the bid will be for a group to build the industrial unit as the financial and technical consultants were chosen.

The initiative aims to reduce the utilization of fossil fuels in the country's energetic mix. According to the same source, 96 % of the North African country's energy was sourced overseas. The objective for Rabbah is to get this new project to produce 42 % of its energy from renewable sources by 2020. «We might surpass that target because there are massive investments now».

Through this new project, Morocco is trying to decrease its reliance on fuel and coal while increasing the use of natural gas.