USTDA Facilitates Energy Security in Morocco
Yesterday, the U.S. Trade and Development Agency signed an agreement with Nador West Med SA to fund a feasibility study that will support the implementation of a hydrocarbon storage, blending and distribution terminal at the Port of Nador West Med, Morocco. By providing technical and transaction advisory services, USTDA's feasibility study will assist with Nador West Med's planned private sector concession of the hydrocarbon terminal.
"This USTDA grant is emblematic of our shared vision of Morocco's role in the regional economy," said U.S. Ambassador Dwight L. Bush Sr., who signed the agreement with Jamal Benjelloun, the Director General of Nador West Med. "It demonstrates our support for Morocco's goals to strengthen its economy and develop its provinces. We are thrilled to be part of the development of the Nador West Med complex. It will improve Morocco's energy security and promote trade throughout the region."
The feasibility study will provide a pre-front-end engineering (FEED) technical assessment of the storage and distribution platform, which would include the design and specifications for all of the control, electrical, pumping, valve and distribution systems. In addition to these analyses, the study will focus on the transaction of the concession, including the development of an implementation timeline as well as a sophisticated sales and marketing effort. Lixia Capsia Gestionis LLC (Wilmington, Del.) will lead the feasibility study with the technical support of three specialized U.S. engineering, finance and transaction advisory service firms.
The development of the terminal, which supports Morocco's energy security goals, will facilitate trade with neighboring countries and the region. By the time the project is complete, the terminal could store over 4.5 million barrels of bulk hydrocarbon products.