Bamako – Morocco has emerged as the leading destination for Spanish liquefied natural gas (LNG) exports, marking a significant shift in the energy dynamics of the region.
According to recent data from the Spanish Agency for Strategic Reserves (Cores), Spain has drastically increased its LNG exports to Morocco over the past two years, overshadowing its traditional European clients.
This surge in gas exports to Morocco follows Spain’s decision to reactivate the Maghreb-Europe Gas Pipeline (GME) in reverse flow in June 2022. Since then, the volume of gas sent to Morocco has skyrocketed, positioning the North African country as Spain’s primary LNG customer.
Official statistics reveal that Spain’s gas exports to Morocco have multiplied by a staggering 155 times, while exports to several European countries have significantly decreased.
The latest figures from Cores highlight that in June 2024, Morocco accounted for 18.5% of Spain’s total gas exports, a dramatic increase from just 0.1% in June 2022.
Over the past 12 months, Spain exported 9,338 gigawatt-hours of natural gas to Morocco through the GME pipeline, underscoring the Kingdom’s growing reliance on Spanish LNG.
In contrast, Spain’s gas pipeline to Italy, which connects Barcelona to Livorno, saw a sharp decline in its share of exports, dropping from 18.4% in 2023 to just 4.4% by June 2024.
Despite this shift, Spain continues to import significant quantities of gas from Algeria, which makes up 29.6% of its imports, and from Russia, which accounts for 19%, even amid ongoing supply challenges.
Morocco’s pivot to Spain for LNG imports is largely driven by the country’s efforts to avoid an energy crisis. Spain, with its substantial regasification infrastructure, has become a key partner for Morocco, allowing LNG to be imported and transported via pipeline.
This partnership has proven economically advantageous for both nations. Spain’s government previously noted that this arrangement generates nearly two million euros in annual revenue, bolstered by fees for unloading, storage, and transport network usage.
The GME pipeline, with a monthly capacity of 960 gigawatt-hours, has been operating at over 90% capacity for the past two years.
In August alone, the pipeline’s usage peaked at 958 GWh, highlighting the robust energy trade between the two countries as European demand wanes.
