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(Bloomberg) — Morocco paused its plan to develop a liquefied natural gas terminal on the Mediterranean coast that aimed to boost imports and curb the use of dirtier fuels.
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The decision to indefinitely freeze the $1 billion project, which would include new pipelines connecting the new Nador West Med port to major industrial areas, was made in light “of new parameters and assumptions” related to what the Moroccan Ministry of Energy Transition and Sustainable Development called a “highly strategic” venture.
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READ: Morocco Gets Closer to Creating $1 Billion LNG Import Hub
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Local and foreign operators “have expressed their interest” in the project after tenders issued in December, the ministry said in a statement on Monday. The announcement came few days after King Mohammed VI held a meeting about the new port with government officials, including the Energy Transition and Sustainable Development Minister Leila Benali.
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The terminal was slated to have a design capacity of 5 billion cubic metres a year, which is more than four times the nation’s current annual demand of 1.2 billion cubic metres.
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Other LNG terminals are supposed to be developed on the Atlantic coast over the medium term, as part of a project to spend $3.5 billion to boost gas consumption to 12 billion cubic meters by 2030.
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It was not immediately clear how Monday’s announcement would affect a separate tender for a floating LNG storage and regasification unit to be moored at the new port in Nador. The ministry had set a Jan. 30 deadline for the pre-selection process of that tender.
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A ministry spokesman did not return Bloomberg calls seeking comment and did not immediately replied to emailed questions.
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