Energy Ministers from the EU, North Africa and the East Mediterranean, high officials, industry representatives and key stakeholders in the energy sector met in Malta to exchange views on how gas-related developments in the Mediterranean region can enhance security of supply in Europe, North Africa and the Middle East.
This discussion took place at a critical time when the wider geopolitical events could have implications on energy security. In reaction to this, and in line with the European Council conclusions of March 2014, the European Union is putting further impetus on its supply diversification objectives. North African and Eastern Mediterranean countries are also looking to develop their economies and meet increasing domestic energy demand.
The Participants agreed that secure, sustainable and affordable energy is a priority for all, and is a key factor for underpinning stability and prosperity in the region. They underlined the importance of regional cooperation to strengthen security of supply but also to favour regional trade at the interest of both gas producers and consumers in the EU, North Africa and the Middle East.
The Participants underlined their general willingness to further strengthen regional energy cooperation and to support the progressive development of joint actions such as infrastructure plans, in order to support solutions that provide best alternatives with the objective of reinforcing the energy market in the Mediterranean region. This will provide real trade opportunities for producing North African and East-Mediterranean countries and consuming countries in the wider Mediterranean region and the EU.
In doing so the importance of a stable and predictable political, legal and regulatory framework was stressed, as was the importance of promoting an attractive investment environment for local and third party investors.
In order to progress on these issues, the Ministers agreed in principle to establish a ‘Euro-Mediterranean Platform on Gas’ that would bring together policy makers, industrial representatives, regulators and energy stakeholders. This Platform will assist in the development of Euro-Mediterranean relations on gas issues. Its aim will be in particular to ensure greater convergence between the policies of the various countries, address upstream production challenges, promote third party upstream investments, improve the conditions for imports of oil and gas from producing countries, develop the necessary infrastructure of common interest, promote technology cooperation, examine gas pricing mechanisms, facilitate market access, cooperate on the domain of safety and security and work together on the promotion of regional energy security.
The Euro-Med gas platform would contribute to the ongoing efforts aimed at enhancing Europe’s energy security and at meeting specific 2030 interconnection objectives.
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