16/06/2022 07:53
Cyprus stands ready to contribute towards the EU’s efforts to secure gas, to be delivered to European markets, said Wednesday Minister of Energy, Commerce and Industry Natasa Pilides at the 7th East Mediterranean Gas Forum (EMGF) Ministerial Meeting, held in Cairo.
According to a press release, Pilides chaired the Ministerial Meeting in which she participated online. On the sidelines of the meeting, EU, Egypt and Israel signed a Memorandum of Understanding for cooperation in trade, transport and gas exports to the EU. Also, a roundtable discussion explored the role of the Eastern Mediterranean gas in energy security and decarbonization efforts.
The Minister of Energy, in her opening address expressed the strong support of Cyprus to the Memorandum signed in the presence of the President of the European Commission Ursula von der Leyen, the European Commissioner for Energy Kadri Simson, the Minister of Oil of Egypt Tarek El Molla and the Minister of Energy of Israel Karine Elharrar.
“The MoU makes specific references to the participation of EU Member States – Cyprus, France, Greece and Italy – in the EMGF and, of course, to the role of the EMGF in supporting and accelerating the establishment of an efficient and competitive, regional East Med gas market, including the gas reserves of regional players such as Egypt, Israel and Cyprus”, said Pilides. She added that «Cyprus stands ready to contribute towards the Union’s efforts to secure gas, to be delivered to European markets by developing our gas resources in a timely and efficient manner”.
The Minister also invited the participants in the EMGF Energy Transition Conference, to take place in Nicosia on the 14th of October 2022. European Energy Commissioner Kadri Simson has already agreed to take part in this conference, during her official visit to Cyprus, and the aim is to highlight the decisive role of the EMGF in the efforts for a transition to cleaner energy and sustainable development.
The Ministerial Meeting, attended by the Ministers or Heads of Delegations of the eight EMGF Member States (Cyprus, Egypt, Greece, Israel, France, Italy, Jordan and Palestine) and the three Observers (EU, USA and World Bank) , approved the results of the 2nd Phase of the Long Term Strategy and the East Mediterranean Gas Decarbonisation Initiative, which, emphasizing the role of gas as a transitional fuel, but also the ways in which the Eastern Mediterranean can contribute to the target for zero emissions by 2050.
The 7th EMGF Ministerial Meeting concluded with the adoption of a Joint Declaration, in which, member states and observers reaffirm their determination to continue working together to achieve the goals of the organization, with full respect for members' rights over their natural resources, in accordance with international law and the objectives of the Paris Agreement.