Morocco has storage capacity of 1.9 million cubic meters of liquid petroleum products and around half a million cubic meters of liquefied petroleum gas, the Minister of Energy Transition and Development said on Tuesday. sustainable, Leila Benali.
In response to a central question during the session of oral questions in the House of Councilors on the state of the stock of basic energy materials, Ms. Benali pointed out that according to the latest data, the stock of petroleum products has reached more than 30 days of national consumption, noting that his Department is working to accelerate all projects, especially in the private sector, to develop additional storage capacities for the storage of petroleum materials, which will reach more than half a million cubic meters , i.e. approximately 13 additional days, with a financial investment of approximately 2 billion dirhams by 2023.
With regard to the legal framework, the Minister noted that Law No. 009.71 and Resolution No. 393.76 do not give the State a direct role in the creation of a reserve stock which reinforces the supply, nor in with regard to strategic stocks which can affect prices, adding that the legal framework relating to the reserve stock does not currently take into account the basic materials which are consumed by Moroccans or the Moroccan economic fabric.
The ministry, she underlined, began, since 2022, within the framework of a participative approach with the actors of the sector, to work on the update of this legal framework, noting that a committee was set up in place to plan the infrastructures of energy products with the Ministry of Equipment and Water, working, according to a study, to plan energy flows in a balanced way and to develop all the necessary infrastructures to improve Morocco’s competitive capacities . The results of this study will be used after its completion to implement the new reserve stock management system and the improvement of storage capacities in a balanced manner throughout the Kingdom.
As for natural gas, Ms. Benali explained that the ministry has been working since October 2021 to develop an urgent plan that includes four stages, noting that her department is currently working on the fourth stage, which is the infrastructure master plan.