Energy ministers of the member states of the East Mediterranean Gas Forum (EMGF) attend the seventh ministerial meeting of the Cairo-based forum. Egyptian Ministry of Petroleum
The meeting was attended by energy ministers and heads of delegations of Egypt, Cyprus, France, Greece, Israeli, Italy, Jordan, and Palestine, the eight members of the EMGF. The United States, European Union, and World Bank also attended the meeting as observers.
According to the meeting’s communique, the energy ministers affirmed the role played by natural gas and low carbon gases in the framework of the international energy transformation process.
The ministers and observers also reviewed a joint initiative that is set to be submitted during the United Nations Climate Change Conference (COP27) in Egypt this November, which focuses on reducing emissions and transitioning to low carbon gas resources.
The initiative will focus on “developing the strategic orientation and action plan to reduce emissions across the gas industry value chain in the forum member countries in order to support the transition to low carbon gas resources,” the communique said.
The initiative will also recommend necessary policies to harmonise efforts of gathering funds, building capacities, and deploying technologies to decarbonise the Eastern Mediterranean gas.
EMGF members and observers stressed their willingness to resume cooperation to achieve the forum’s objectives with respect to its members’ rights in their natural resources according to international law and objectives of the Paris Agreement, the communique added.
Formally established in 2020 as an international organisation, the forum aims to establish a regional gas market in the Eastern Mediterranean and enhance trade relations among the member states.
The energy ministers of the member states of the EMGF held their first meeting in Cairo in March last year, during which the forum’s statute was enforced.
The ministerial meeting of the forum today saw the signing of the landmark Memorandum of Understanding (MoU) among Egypt, Israel, and the European Union on transporting gas to the bloc.
Under the MoU, Israel will transport natural gas to the EU after being liquified in Egypt in an effort by the bloc to reduce its dependency on Russian gas imports.