CAIRO, Sept. 23, 2020 /PRNewswire/ -- The Egyptian Ministry of Petroleum and Mineral Resources hosted today, the 22nd of September, 2020, the signing ceremony of the statute of East Mediterranean Gas Forum (EMGF), establishing it as a regional intergovernmental organization, based in Cairo.
The EMGF 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 EMGF will fully respect the rights of its Members over their natural resources in accordance with international law. It will support their efforts to monetize their reserves, utilize the existing and future gas infrastructure through interactive cooperation with the gas industry and other stakeholders; including investors, traders, financing entities. To this effect, the Gas Industry Advisory Committee (GIAC) was established under the EMGF in Nov 2019; as a permanent dialogue platform between Governments and other business partners.
The EMGF will contribute to advancing regional stability and prosperity, creating an environment of trust, prosperity, stability and good neighborly relations through regional energy cooperation.
To this end and according to the relevant provisions of its Statute, the EMGF is open for any East Mediterranean country to apply for membership and for any other country, regional, or international organization to apply to join as an observer provided that they share the same values and objectives of the EMGF and the demonstrable willingness to cooperate on the basis of international law for the security of the whole region and the welfare of its peoples.
In this context, The EMGF appreciates the constructive responses and extensive support it has received, as reflected in the interest of many international parties and organizations to engage in its activities and in the fruitful collaboration with international partners, such as the EU and the World Bank.
On this occasion the EMGF reiterates its deep appreciation to Egypt for its initiative calling for the establishment of the EMGF, providing the utmost support as a host country, under the leadership of the President of the Arab Republic of Egypt, President Abdel Fattah El-Sisi.
SOURCE Egypt Ministry of Energy