Mauritanie : Ruée des investisseurs sur le Gaz et l’Hydrogène

With the discovery of the Greater Tortue Ahmeyim (GTA) gas field in 2015 on the maritime border with Senegal and the latest developments regarding the BirAllah field, Mauritania has become an increasingly attractive investment destination.

In addition to the benefits of hydrocarbon supply, Mauritania should benefit from many economic opportunities made possible by the sale of gas and hydrogen.

The infrastructure

According to the World Bank, Mauritania's lack of infrastructure has been a major constraint on economic growth. However, with the introduction of large-scale energy projects such as GTA, which require heavy investment in infrastructure such as roads, pipelines, and storage facilities, opportunities for growth in this area have increased.

The development of these infrastructure projects will create jobs in construction and maintenance, which will stimulate the economy. One specific project is the transformation of the port city of Nouadhibou into a regional gas processing, import and export center, which, in addition to creating jobs, will require an expansion of the current oil storage capacity by 300,000 metric tons.

In addition, in terms of power infrastructure, the Banda Gas-to-Power project, developed by New Fortress Energy, aims to produce natural gas for power generation by 2024. The project includes upstream gas production, power generation and power transmission. It will reduce costs and increase supply to Mauritanian households and industry, while promoting regional integration through electricity exports to Senegal and Mali.

Green hydrogen

Hydrogen has a crucial role to play in the transition to sustainable energy. Despite its potential, the production of green hydrogen is still limited and costly. According to Nils Røkke, president of the European Energy Research Alliance, one solution is to develop blue and green hydrogen simultaneously, with the expectation that green hydrogen will gradually become the dominant form. This is the strategy adopted by the British firm BP in Mauritania, which has an operating interest in the GTA and BirAllah liquefied natural gas (LNG) fields, but is also studying the feasibility of a green hydrogen project in the country.

Mauritania's Minister of Finance, Isselmou Ould Mohamed M'Bady, has called for a "significant increase in blended financing to support the transition to green energy. Using the profits from the first gas could be one way to finance green hydrogen projects.

Services

Already a major mineral producer, Mauritania has a strong pool of local service providers in the extractive sector, from logistics and security to legal and engineering advice.

The expansion of infrastructure and the development of oil and gas projects will create even more job opportunities in this sector. For example, local consulting firm Meen&Meen, which is part of a joint venture with Jade Advisory and EPCM Holdings, has been awarded a strategic contract to transform the southern port of Nouakchott into a regional hub. The country's projected GDP growth of 6.2% by 2025 will also improve the quality and availability of services in the country.

The transport industry, in particular, is expected to benefit from the increased demand for goods and people, with the African Development Bank estimating that Mauritania's transport sector will grow by 5.5 percent per year between 2020 and 2025.

The challenge of access to finance

According to the World Bank, access to finance remains a major challenge in Mauritania, with only 10% of the population having access to formal financial services. Ousmane Mamadou Kane, Minister of Economic Affairs and Promotion of the Productive Sector, explained that the government intends to inject significant resources into the Treasury and the Central Bank using revenues generated by oil and gas. This will create significant opportunities for local banks and financial institutions while allowing the wider business sector to benefit from improved access to capital.

Tourism and hotel industry

Moins connue pour le tourisme que ses pays voisins, le Maroc et le Sénégal, la Mauritanie recèle pourtant des joyaux cachés comme la région de l’Adrar qui regorge de sites fascinants tels que les villes historiques de Chinguetti et Ouadane, ou le Train du minerai de fer, accessible aux voyageurs aventureux, qui relie la ville minière de Zouerat à la ville côtière de Nouadhibou et offre des vues imprenables sur le paysage désertique. L’amélioration des infrastructures routières et l’augmentation des revenus devraient donner un coup de fouet aux secteurs de l’hôtellerie et du tourisme.