Energy Authorities met in Rome in the framework of East Mediterranean Gas Forum
On the 6th October, ARERA – the Italian Regulatory Authority for Energy, Networks, and Environment – hosted in Rome the third meeting of the Regulatory Authority Advisory Committee (RAAC) in the framework of East Mediterranean Gas Forum (EMGF).
The Cypriot, Egyptian, French, Greek, Israeli, Italian, Jordanian, and Palestinian regulators shared the necessity of a common and coordinated view and action to boost gas market and energy transition in the Region.
Regulators discussed on how putting in place appropriate regulatory tools to foster a regional and effectively integrated gas market and issues like third party access and incentive regulation to facilitate new gas infrastructure and trading were discussed.
RAAC Members approved activities plan for the next months to come and the following subjects were discussed: security of supply, projects of common interest, market integration, regional agreements, technical arrangements, financing, cross-border coordination, and others. Regulators also agreed to take advantage of existing and public information available through other regional regulatory associations.
The meeting ended with a roundtable led by ARERA President, Stefano Besseghini: long term regulatory instruments and possible strategies were discussed considering the impact of new and recent gas field discoveries in the region.
H.E. Osama Mobarez – EMGF Secretary General highlighted: “the EMGF is taking bold steps towards the implementation of its Long-Term Strategy in order to start collecting the low hanging fruits as soon as possible. Cooperating together to align on the Regulatory Framework for the role of Natural Gas as a Transient Fuel will be of great benefit for all the EMGF Member Countries.”
Engineer Karem Mahmoud, Gas Regulatory Authority Executive Chairman and RAAC Vice Chairperson highlighted: “through the structured dialogue and the exchange of different experiences in the field of regulations, we will be able to create an integrated regulatory framework and to take part in supporting the establishment of secure, sustainable and competitive East-Med gas market.”
Mr. Besseghini said: “today’s meeting of the RAAC in Rome underlines the importance that Italy assigns to the Mediterranean Region also considering the ongoing energy crisis. Developing a truly integrated and functioning gas market in the East-Mediterranean region will surely contribute to secure supplies in the long run and effective gas market in the Euro-Mediterranean Region.”