Morocco’s gas output is running at a 13-year low of just over 5mn cfd after cash-strapped producer, UK independent SDX Energy, slashed investment. SDX says it has now kicked off a new drilling campaign having negotiated a higher sales price with a key industrial customer, but as of the latest official data for May, output of 5.3mn cfd was up only fractionally from April’s 5.1mn cfd nadir.
Despite this, supply has risen above 100mn cfd for the first time since Algeria halted deliveries in late 2021 with imports from Spain hitting a record 97.1mn cfd for August, according to data from Spanish network operator Enagas (see chart). Though coal and renewables are ahead of gas as Morocco’s key power fuels, the leap in gas imports will have been crucial in ensuring Morocco met power demand which set a new record 7.31GW on 11 August (MEES, 25 August). (CONTINUED - 201 WORDS)