IEF and East Med Gas Forum sign agreement at EGYPS to deepen collaboration

The International Energy Forum (IEF) and the East Mediterranean Gas Forum (EMGF) have signed a memorandum of understanding to advance regional dialogue on gas market security, decarbonisation and transparency.

The memorandum was signed by IEF Secretary General Joseph McMonigle and the EMGF Secretary General Osama Mobarez on the sidelines of the first day of Egypt Petroleum Show (EGYPS) in Cairo.

“The huge gas reserves of the Eastern Mediterranean will play an increasingly important role in global energy security, so it is critical that we support the energy dialogue in this region and work with the East Mediterranean Gas Forum to enhance understanding of this resource and its role in the global market," said McMonigle.

Mobarez said: “At a time of heightened global energy consciousness, it is important that EMGF and IEF embark on a comprehensive energy dialogue that addresses energy security, protects market stability and promotes transparency, while addressing climate change, and guaranteeing just and orderly transitions that work for all countries.”

The two organisations will be represented at each other’s ministerial meetings and will collaborate on gas market security and sustainability policy; research of gas sector investment, trade, and innovation trends; building a hydrogen network; and the role of gas in energy transitions.

The agreement will further reinforce the energy market data transparency work of the IEF, which publishes monthly data on natural gas production and consumption worldwide. The two organisations will also collaborate on seminars, workshops and reports.