Today, June 15, 2022, the Seventh Ministerial Meeting of the East Mediterranean Gas Forum (EMGF) convened in Cairo - The Arab Republic of Egypt - under the Presidency of Her Excellency Natasa Pilides, Minister of Energy, Commerce and Industry of the Republic of Cyprus, as the current President of the EMGF Ministerial Meeting.
The Meeting was attended by the Egyptian, Cypriot, French, Greek, Israeli, Italian, Jordanian and Palestinian Ministers of Energy and Heads of Delegations of the EMGF Members. The United States of America, the European Union and the World Bank attended as Observers.
The Ministers and Heads of Delegations began by acknowledging the significant stabilizing role of the EMGF amidst the current geopolitical tensions, where the global energy industry is facing major price fluctuations that affect households as well as business and industry. The meeting emphasized EMGF’s achievements thus far, while raising prospects for further concrete developments, which will help overcome the global energy challenges, in order to ensure a sustainable regional gas market in the East Mediterranean region and contribute to diversification of supplies.
Members and Observers reaffirmed their determination to continue cooperating towards achieving the EMGF objectives, while fully respecting the rights of its members over their natural resources in accordance with international law and the goals of the Paris Agreement.
The Ministerial Meeting also discussed the progress of EMGF activities including approving the outcomes of Phase 2 of the EMGF Long Term Strategy (LTS), which is comprised of the essential elements necessary to enable the EMGF to realize its vision and strategic objectives, as well as delivering value for the economies of the Member Countries and the development of their energy sector, in the context of a transition towards net zero carbon emissions.
This includes finalizing the EMGF operating model and institutional framework for overseeing effective implementation of the Forum’s LTS.
With respect to the global energy transition process, the Ministers and Heads of Delegations reaffirmed the crucial role of natural gas and low carbon gases in this transition as low emissions fuels, which can help economies transition towards global net-zero emissions. They highlighted the urgency towards providing more reliable, affordable, and low-carbon energy sources that support global sustainable growth while in line with the goals of the Paris Agreement.
Building on the discussions of the previous Ministerial Meeting, the EMGF Members and Observers reviewed the joint initiative that would be presented during COP27, which Egypt will host on behalf of the African Continent. It focuses on developing a strategic direction and an action plan to reduce emissions across the value chain of the EMGF member countries’ gas industry, in order to support transition to low carbon intensive gas resources, in addition to recommending the needed policies to align efforts to mobilize financing, develop capacities and deploy technologies for de-carbonization of the East Mediterranean gas.
Moreover, the Ministers and Heads of Delegations together with key Gas Industry Advisory Committee Members and senior industry representatives engaged in a Roundtable Event on the sidelines of this Ministerial Meeting to discuss EMGF’s growing role in ensuring global energy security and delivering upon climate actions. The EMGF members and partners are key for expanding the existing trade relationships with Europe, as well as promoting energy security, diversifying energy supplies and boosting economic growth.
The Esteemed Ministers and Heads of Delegations agreed to convene for the next Ministerial Meeting in the EMGF’s Headquarters in Cairo during December 2022.
At the close, the Ministers and Heads of Delegations expressed recognition to Her Excellency Natasa Pilides, Minister of Energy, Commerce and Industry of the Republic of Cyprus for her efforts exerted in her new role as the President of the Ministerial Meeting and His Excellency Tarek El Molla, Minister of Petroleum and Mineral Resources of The Arab Republic of Egypt, for hosting the Forum and the Meeting.
As a final point, His Excellency President Abdel Fattah El-Sisi met with Her Excellency Ursula von der Leyen, President of the EU Commission, as well as the EMGF Ministers and Heads of Delegations to discuss further cooperation in the energy and climate domains in the East Mediterranean region. They expressed their deep appreciation to the Arab Republic of Egypt under the leadership of His Excellency President Abdel Fattah El-Sisi for providing utmost support to the forum since its inception resulting in significant achievements.