Cyprus[/B] is ready to contribute to EU efforts[/B] to secure gas, which will be delivered to European markets through the timely and efficient development of its indigenous resources, Minister of Energy, Trade and Industry Natasha Pileidou stressed at the 7th Ministerial Meeting of the East Mediterranean Gas Forum (EMGF), which took place on Wednesday in Cairo.
According to a press release from the Ministry, Ms. Pilidou chaired the Ministerial Meeting in which she participated online. On the sidelines of the meeting, the EU, Egypt and Israel signed a Memorandum of Understanding on cooperation in trade, transport and gas exports to the EU, and a Round Table Discussion on the Role of Eastern Mediterranean Gas in Energy Security and Unblocking Efforts was held.
Welcoming, on behalf of the Cyprus Presidency of the EMGF, the participants of the 7th Ministerial Meeting, the Minister of Energy expressed Cyprus' strong support 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 Egyptian Minister of Petroleum Tarek El Molla and the Israeli Minister of Energy Karine Elharrar.
The Memorandum, Ms. Pileidou stressed, clearly highlights the importance of the gas fields of the Eastern Mediterranean, including the reserves in the EEZ of the Republic of Cyprus, for ensuring the EU's energy security. The Memorandum, he noted makes specific references to the participation of EU Member States - Cyprus, France, Greece, France and Italy - in the EMGF and the role of the EMGF in supporting and accelerating the creation of an efficient and competitive, regional East Med Gas Market, including the gas reserves of regional players such as Egypt, Israel and Cyprus.
"Cyprus stands ready to contribute to the Union's efforts to secure gas, which will be delivered to European markets through the timely and efficient development of our indigenous resources," she added.
At the same time, the Energy Minister invited members and observers of the Forum to the EMGF Energy Transition Conference, which will be held in Nicosia on 14 October 2022. This conference, Ms. Pileidou noted, has already been agreed to be attended by European Energy Commissioner Kadri Simson, as part of her official visit to Cyprus, and aims to highlight the decisive role of the EMGF in the efforts to transition to cleaner energy and sustainable development.
Today's Ministerial Meeting was attended by the Ministers or Heads of Delegation of the eight member countries (Cyprus, Egypt, Greece, Israel, France, Italy, Italy, Jordan and Palestine) and the three Observers of the Forum (EU, USA and the World Bank), approved the results of Phase 2 of the study on the Organisation's Long Term Strategy, which, taking into account the needs of the energy transition, emphasises the role of natural gas as a transitional fuel and the ways in which the Eastern Mediterranean can contribute to the goal of zero pollution by 2050.
In addition, the relevant technical group presented the progress of the Forum's initiative on policy formulation for "Unfracking of the Eastern Mediterranean Gas", which will be formally presented at the 27th session of the United Nations Climate Change Conference (COP27) to be held in November in Egypt.
The 7th Ministerial Meeting of the EMGF concluded with the adoption of a Joint Declaration in which, among other things, member countries and observers reaffirm their determination to continue to work together to achieve the objectives of the organisation, with full respect for the rights of members over their natural resources, in accordance with international law and the objectives of the Paris Agreement.
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