Morocco: Israeli company has an eye on ‘large reservoir’ of natural gas in the desert
The CEO of Israel’s public energy company NEOMED energy, Yossi Abu, has expressed its readiness to invest in natural gas exploration in the Moroccan Sahara.
“Morocco will become an energy hub in the future because of its stability and the diversity of sources it relies on,” said Abu. “The Moroccan Sahara is a large reservoir of natural gas.” He revealed that the company is working on attracting capital to invest more in the field of energy in Morocco.
“We are currently investing in three areas: natural gas, renewable energies, and green hydrogen,” he was quoted as saying by Russia Today. “We believe that Morocco has huge potential for discovering natural gas, especially in the Moroccan Sahara, and we want to be an important player in Morocco, and we are coming to invest. Morocco is ideally positioned to become a global energy center, given its stability, geography, and proximity to Europe.”
NEOMED energy added its CEO, is the “most powerful” energy company in Israel and has invested $12 billion in this field over the past decade, including exploration, development, exploration, production, and sales. “It has unprecedented interconnection agreements with both the UAE and Jordan, and added an agreement with the UAE after the normalization of diplomatic relations between Israel and Abu Dhabi.”