The necessity of a common and coordinated view and action to boost gas market and energy transition in the Region, shared in a meeting in Rome the energy regulatory authorities of Cyprus, Egypt, France, Greece, Israel, Italy, Jordan and Palestine, in the framework of the East Mediterranean Gas Forum (EMGF).
The Chairman of Cyprus’ energy regulatory authority (CERA), Dr. Andreas Poullikkas participated in the third meeting of the Regulatory Authority Advisory Committee (RAAC) in the framework of the EMGF, that took place on October 6, a press release by CERA said.
At the meeting, hosted by ARERA – the Italian Regulatory Authority for Energy, Networks, and Environment – regulators discussed on how putting in place appropriate regulatory tools to foster a regional and effectively integrated gas market and issues like third party access and incentive regulation to facilitate new gas infrastructure and trading were discussed.
RAAC Members approved activities plan for the next months to come and discussed issues such as security of supply, projects of common interest, market integration, regional agreements, technical arrangements, financing, cross-border coordination, and others. Regulators also agreed to take advantage of existing and public information available through other regional regulatory associations.
The meeting ended with a roundtable discussion that examined issues like long term regulatory instruments and possible strategies considering the impact of new and recent gas field discoveries in the region.
“As mentioned, the Eastern Mediterranean Gas Forum is taking bold steps towards the implementation of its Long-Term Strategy in order to start collecting the expected results as soon as possible. Working together to align the Regulatory Framework regarding the role of Natural Gas as a Transition Fuel will be of great benefit to all EMGF members,” it added.
During the discussion, it said, it was pointed out that the meeting in question in Rome underlines the importance attached by both host Italy and other EMGF members to the Mediterranean region, taking into account the ongoing energy crisis and that the development of “a truly integrated and functioning gas market in the East-Mediterranean region will surely contribute to secure supplies in the long run and effective gas market in the Euro-Mediterranean Region.”
Source: Cyprus News Agency