Six countries: Egypt, Israel, Jordan, Italy, Greece, and Cyprus have agreed to formally establish the East Mediterranean Gas Forum (EMGF) which will be based in Egypt. The new forum will act as an intergovernmental organisation that promotes natural gas exports from the region. The Palestinian Authority is also included the forum, with the US and EU asking for observer status, while France has applied to join.
Analysts said that Israel has an individual motive to use the forum as a vessel to strengthen ties with Arab nations. The forum also unites Turkey’s regional rivals. The rivalry, along with regional politics, infrastructure, and transport costs, has complicated the prospect of unlocking the region’s gas potential. Turkey is in discord with neighbouring Cyprus and Greece over gas drilling rights in disputed waters.
Meanwhile, Egypt has started importing natural gas from Israel for possible re-export to Asia or Europe. Following the discovery of the giant offshore Zohr field in 2015, the North African country has been promoting itself as a regional natural gas hub.
Tags: Africa,AlwaysFree,Egypt,English,Europe,Gas,Italy,Middle East
Published on September 23, 2020 4:00 PM (GMT+8)Last Updated on September 24, 2020 6:04 PM (GMT+8)
