Business | Oil & Gas
Morocco plans to build $1b LNG terminal
Morocco, the only North African state with no oil of its own, plans to build a liquefied natural gas terminal as part of a drive to diversify energy supply to fuel its strong growth, its energy minister said.
- Reuters
- Published: 00:00 April 20, 2007
Rabat: Morocco, the only North African state with no oil of its own, plans to build a liquefied natural gas terminal as part of a drive to diversify energy supply to fuel its strong growth, its energy minister said.
"The investment needed to set up the terminal and its related transport network is estimated at $1 billion and will be financed by local and international investors," Mohammad Boutaleb said.
The terminal, to import natural gas liquefied and shipped in tankers, will have an initial capacity of 3 billion cubic metres. It will boost the share of gas in Morocco's energy supply basket from less than 3 per cent to 20 per cent.
"The LNG terminal aims at diversifying Morocco's energy sources and multiplying reception facilities to ensure more energy supply security," he said.
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