articles | 18 September 2020 | ServPRO Accountants & Consultants

Eastern Mediterranean Gas Forum Charter approved by Cyprus Cabinet

Energy Minister of Cyprus, Natasa Pilides, in a recent statement stated that the Eastern Mediterranean Gas Forum (EMGF) is a very important initiative by Egypt, following a Cabinet meeting approving the Forum’s Charter.

The regional organisation launched by Egypt’s initiative, involves the founding members of seven countries:Cyprus, Greece, Italy, Jordan, Egypt, Israel and the Palestinian authority. The EMGF “utilizes the excellent relations and the cooperation among Eastern Mediterranean countries, in order to find the best possible way to make use of the region’s natural wealth, first and foremost natural gas,” Pilides said.

Following the Cabinet meeting in Nicosia Cyprus, Pilides stated that companies from member countries are also involved in the forum and are welcome to discuss issues at experts’ level. “This will result to better cooperation, implementing the goals and to utilizing our natural resources better and faster” she added.

Due to the current situation and COVID-19, Pilides said that the founding members will take part in an online signing ceremony on 22 September 2020 and the Charter will be sent to the respective Energy Ministers for signing.

Electricity grids is another topic of discussion between Cyprus – Israel and Cyprus – Egypt, the Minister said.  She noted that the participation of companies at the EMGF ensures that issues pertaining to the development of resources will be promoted in parallel and that decisions will be implemented better and faster.

Moreover, the Minister said that a recent meeting with a delegation from Noble Energy has created a concrete plan on the steps to follow. Experts are looking at deadlines and the activities ahead and the plan progresses according to schedule, she added.

On 2 October 2020, Noble Energy’s Special Shareholders Meeting is expected to approve the pending acquisition by Chevron. Pilides noted that the Government is progressing with its plans together with Noble Energy as well as other partners, including Shell and Delek.

 


 



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