The International Energy Forum (IEF) and the East Mediterranean Gas Forum (EMGF) Monday signed a memorandum of understanding to advance regional dialogue on gas market security, decarbonization and transparency.
The memorandum was signed by IEF Secretary-General, Joseph McMonigle and the EMGF Secretary- General, Osama Mobarez on the sidelines of the Egypt Petroleum Show in Cairo.
“The huge gas reserves of the Eastern Mediterranean will play an increasingly important role in global energy security, so it is critical that we support the energy dialogue in this region and work with the East Mediterranean Gas Forum to enhance understanding of this resource and its role in the global market,” said Mr. McMonigle.
Mr. Mobarez said: “At a time of heightened global energy consciousness, it is important that EMGF and IEF embark on a comprehensive energy dialogue that addresses energy security, protects market stability and promotes transparency, while addressing climate change, and guaranteeing just and orderly transitions that work for all countries.”
The two organizations will be represented at each other’s ministerial meetings and will collaborate on gas market security and sustainability policy; research of gas sector investment, trade, and innovation trends; building a hydrogen network; and the role of gas in energy transitions.
The agreement will further reinforce the energy market data transparency work of the IEF, which publishes monthly data on natural gas production and consumption worldwide. The two organizations will also collaborate on seminars, workshops and reports.
