New Mediterranean energy forum launched with Israel as member

Forum includes Egypt, Israel, Greece, Cyprus, Jordan, the PA and Italy

Energy ministers of seven countries, including Israel’s Yuval Steinitz, attended an event launching the new East Mediterranean Gas Forum ( EMGF) in a virtual event hosted in Cairo on Tuesday morning.

“The blessing of gas brings regional cooperation with Arab and European countries, the first of its kind in history, including contracts to export $ 30 billion of blue- and- white gas to Jordan and Egypt, and that’s only the beginning,” Steinitz said.

The forum includes Egypt, Israel, Greece, Cyprus, Jordan, the Palestinian Authority and Italy, whose ambassadors, and Egyptian Energy Minister Tarek al- Mulla, signed the EMGF’s charter in Cairo. The ambassadors of countries interested in joining – France as a member and the US and EU as observers – were also in attendance.

Steinitz and al- Mulla initiated the EMGF’s establishment in 2017 following natural gas discoveries off the coasts of Israel and Egypt. It existed at first to facilitate talks between the different countries, but Tuesday’s ceremony established it as an intergovernmental organization.

The joint declaration on the EMGF’s launch said it “aims to serve as a platform that brings together gas producers, consumers and transit countries to create a shared vision and establish a structured systematic policy dialogue on natural gas, leading to the development of a sustainable regional gas market and unlocking the full gas resource potential in the region for the benefit and welfare of its people.” The forum also includes a Gas Industry Advisory Committee, an ongoing dialogue between governments and business partners, to help monetize the gas reserves.

The Energy Ministry said Israel’s membership in the forum will give it major advantages in promoting shared goals in the natural gas market’s development and help Israel export gas to its neighbors and to Europe.

On a diplomatic level, it could contribute to further normalization and ties between Israel and countries in the region, and improve Israel’s standing with countries with which it already has diplomatic relations.