Yossi Abu, CEO of NewMed Energy told attendees at the Jerusalem Post Global Investment Forum in Marrakech, Morocco on Thursday that Morocco is ideally positioned to become a global energy hub, due to its stability, geography and access to Europe. Abu participated in a panel discussion entitled “What are the viable alternatives to facing the energy crisis”.
Zakaria Naimi, General Manager of Gi3, Moundir Zniber, president of Gaia Energy, and Ali Zerouali, head of cooperation and international development for Masen. The panel was moderated by Eran Lerman, Editor-in-chief of the Jerusalem Strategic Tribune.
Abu noted that NewMed Energy has vast experience in the region, as evidenced by the fact that the company connected the natural gas grids between Israel, Jordan and Egypt. He added that the company’s access to significant amounts of capital – it has invested some $12 billion in energy development in the past decade – will help in its investment in Moroccan energy.
“We believe that Morocco has a vast potential for natural gas discoveries, primarily in the Moroccan Sahara,”Yossi Abu, CEO of NewMed Energy
NewMed Energy investments in Morocco
NewMed Energy is investing in Morocco, said Abu, in three areas – natural gas, renewable energy, and hydrogen. “We believe that Morocco has a vast potential for natural gas discoveries, primarily in the Moroccan Sahara,” he said.
NewMed has recently signed an agreement with Enline, Israel’s leading renewable energy company, and will be working with them in MENA countries, including Morocco. The company is also involved in the extensive development of green and blue hydrogen in the region. “We are supplying an enormous amount of energy to our region, we want to be an important player in Morocco, and we are coming to invest,” he said.