Minister of Oil: ‘We hope That European Countries Will Contribute to Investment in the Energy Transition Field’

On 20 March, Mr. Nani Ould Chrougha, the Minister of Oil, Mines, and Energy, government spokesperson, declared that industrialized countries are primarily responsible for the emission of gases harmful to the environment and that to this end, they must contribute to providing the sources of financing necessary to ensure the energy transition toward clean energy sources, including green hydrogen.

In a speech delivered at an international conference on energy transition, he added that the issue was addressed during the recent visit of the President of the EU to Mauritania, adding that following those discussions, the EU declared itself ready to create a bank to finance green hydrogen projects to encourage investors who wish to launch projects in this area.

Mr. Oluld Chrougha explained that Mauritania worked last year and early this year to develop a legal framework that allows investors to launch green hydrogen projects. Several consultative meetings were held with energy stakeholders, which ultimately resulted in a hydrogen code, which was approved by all. He announced that it would be adopted before the end of 2024.

In response to a question on Mauritania’s potential, the Minister listed the significant advantages it enjoys compared to many countries, stressing that all investment protection measures have been taken. He emphasized Mauritania’s unique advantage, namely the abundance of minerals and the potential of green steel industries, adding that all these advantages have attracted many parties to seek to establish energy partnerships with Mauritania.