Today, the East Mediterranean Gas Forum (EMGF), in collaboration with the Greek Ministry of Environment and Energy, hosted an insightful and forward-looking session at the Greek Pavilion during COP29, titled “Gas Industry Reinvention: Adapting to the Energy Transition.”
This session served as a crucial platform for industry leaders, policymakers, and experts to engage in meaningful dialogue about the future of energy in the Eastern Mediterranean and beyond. The focus was on the evolving role of the EMGF in driving the region’s transition towards more sustainable and low-carbon energy systems. The conversation centered on how the gas industry, a key part of the region’s energy mix, must reinvent itself to align with global climate commitments and ensure energy security in the face of ongoing environmental challenges.
A key highlight of the discussion was the presentation of the Carbon Intensity Certification (CIC) mechanism, which is emerging as a groundbreaking tool to help both developing nations and regional organizations meet their climate goals. The CIC is designed to provide a transparent, standardized method for assessing the carbon intensity of natural gas, enabling stakeholders to better track and manage emissions throughout the production and supply chain. By implementing the CIC framework, countries and companies can more effectively demonstrate their commitment to reducing greenhouse gas emissions, which is vital as the world moves toward decarbonization.
The panelists emphasized the importance of the CIC as a key enabler for balancing ambitious climate targets with the need for sustainable economic development, particularly for nations that are heavily reliant on natural gas. The framework allows the region to maintain energy security while ensuring that fossil fuel resources are developed in a way that minimizes their environmental impact.
As the session came to a close, there was a unified call for continued collaboration and a shared vision of a sustainable energy future. Participants highlighted that the work of the EMGF, alongside the innovative framework provided by the CIC, positions the Eastern Mediterranean as a significant player in the global transition to a low-carbon energy future. By embracing new technologies, fostering regional cooperation, and committing to transparent carbon accounting, the region has the potential to lead by example in the energy sector’s transformation.
In conclusion, this event underscored the critical role of regional initiatives and collective action in driving forward the global energy transition. The joint efforts of the EMGF and the Greek Ministry of Environment and Energy are helping to lay the groundwork for a more sustainable, resilient, and low-carbon energy landscape in the Eastern Mediterranean and beyond.