Seven countries announce their participation in the establishment of the Eastern Mediterranean Gas Forum

MEDIA IN \ Agencies 14 -01-2019
Energy ministers in Egypt, Cyprus, Greece, Italy, Jordan, Palestine and Israel discussed in Cairo today, at the invitation of Egyptian Minister of Petroleum and Mineral Resources Tariq Al-Mulla, the establishment of the Eastern Mediterranean Gas Forum.
The ministers announced their intention to establish an “Eastern Mediterranean Gas Forum” to establish an international organization that respects the rights of members on their natural resources in accordance with the principles of international law to support their efforts to benefit from their reserves and the use of infrastructure and the establishment of a new structure in order to secure Their energy needs for the well-being of their people.
The Ministers affirmed that the Eastern Mediterranean Gas Forum will be based in Cairo and that any of the Eastern Mediterranean countries producing or consuming gas or transit countries who agree with the Forum in the interests and objectives can join the membership later after completing the necessary membership procedures agreed between Founding States.
They also declared that the Forum would be open to the accession of other States or regional or international organizations as observers and that it would work with non-member States to promote dialogue, mutual understanding and mutual benefit, as the circumstances warrant.
The Ministers agreed that the main objectives of the EGG will include the establishment of a regional gas market that serves the interests of Members by ensuring supply and demand, optimizing resource development, rationalizing the cost of infrastructure, offering competitive prices and improving trade relations.