Following a proposal by the Ministry of Energy, CyGas was offered to participate in the multinational East Mediterranean Gas Forum (EMGF) and in particular in the Gas Industry Advisory Committee set up within the framework of the Organization.
The role of the Committee is to provide consulting services to the EMGF which is upgraded to a permanent intergovernmental organization based in Cairo. The aim of this new promising organization, is to create a regional natural gas market, in addition to the cooperation and resolution of disputes between members in this region and the support of producers and consumers within each country.
The organization includes the countries in the Southeastern Mediterranean, namely Egypt, Cyprus, Greece, Israel, Italy, Jordan and the Palestinian Authority, while the Gas Industry Advisory Committee (GIAC) consists of the largest and most active representatives of the sector. The GIAC will serve both as a link and a dialogue platform with the international industry.
DEFA’s Chairman of the Board, Dr. Symeon Kassianides, pointed out: “The invitation by the organization and the proposal of the Ministry of Energy for the participation of CyGas in the Natural Gas Advisory Committee is an exceptional honor for us. The evolution of the Eastern Mediterranean Gas Forum into an organization with international status and a transnational character lays the foundations for outstanding cooperation between the countries in the sector and for the necessary steps towards the completion of a regional natural gas market in the region.
“The establishment of the Eastern Mediterranean Gas Forum opens a new chapter in the history of energy in the Southeastern Mediterranean basin, in addition to strengthening the prospects for dialogue between the countries of the region for the commercial exploitation of natural gas via joint cooperation.
“By accepting the proposal to participate in the Natural Gas Advisory Committee of the organization, CyGas will support this initiative in a consultative capacity. Our main goal is for the natural gas of the Southeastern Mediterranean to enter dynamically the global market and become a competitive part of it.”