{"id":574824,"date":"2020-09-23T04:13:28","date_gmt":"2020-09-23T04:13:28","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/23\/eastmed-gas-forum-charter-signed-by-founding-members\/"},"modified":"2020-09-23T04:13:28","modified_gmt":"2020-09-23T04:13:28","slug":"eastmed-gas-forum-charter-signed-by-founding-members","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/23\/eastmed-gas-forum-charter-signed-by-founding-members\/","title":{"rendered":"EastMed Gas Forum charter signed by founding members"},"content":{"rendered":"

<\/a> Egypt takes a major step towards its regional energy hub ambitions with the <\/strong>formalization of the EastMed Gas Forum:<\/strong> The Eastern Mediterranean Gas Forum is now officially an established organization headquartered in Cairo after six of the seven founding states signed its charter yesterday, marking another key step in Egypt\u2019s path to becoming the region\u2019s premier energy hub, according to a cabinet statement<\/a>. The organization will serve as a market platform for natgas producers, consumers, and transit countries in the region to develop existing resources and develop the infrastructure for future exploitation, in addition to regulating natgas policies in the region that protect the rights of member states to preserve their resources, the signatories said in a joint statement after the online ceremony. The seventh member, Palestine, did not attend the ceremony but will sign at a later date<\/a>.<\/p>\n

How is this all going to happen?<\/strong> Through the forum, member states will exchange information and seismic data studies on potential gas wells and delineate new gas finds that straddle maritime borders, Medhat Youssef, former chairman of Egyptian General Petroleum Corporation tells Enterprise. Member states could even get preferential rates on each other\u2019s gas supplies, as well as preferential access to liquefaction facilities, he said.<\/p>\n

The forum is already looking at growing its mandate beyond natgas exploitation<\/strong> to potentially cover electricity and renewable energy, Cypriot Energy, Commerce, and Industry Minister Natasa Pilides told reporters<\/a>.<\/p>\n

Who\u2019s in?<\/strong> In addition to Egypt, the founding member states<\/a> are Greece, Cyprus, Italy, Israel, Jordan, and Palestine. France had formally requested<\/a> to join the forum as a member while the US asked to be a permanent observer. Private and public sector companies will also be included as members of an advisory committee<\/a>, although it was not made clear whether the committee would only include companies from member states.<\/p>\n

The door is not yet closed to others who want to join \u2014 ahem, Turkey:<\/strong> Other countries can apply to join \u201cas long as their goals match those of the forum,\u201d Oil Minister Tarek El Molla said. The forum is not designed to gang up against any other players and is instead meant to create a coalition that works together \u201cwithout causing problems,\u201d Egypt\u2019s ambassador to Cyprus Mai Khalil said<\/a>. Turkey signalled earlier this week<\/a> that it is willing to make peace and become a member of the forum, rather than be left out in the cold. Greek Energy Minister Kostis Hatzidakis encouraged the forum earlier this year to bring Turkey into the fold, provided Ankara respects international law.<\/p>\n

Background:<\/strong> The charter has been in the works since the forum\u2019s first launch meeting last year,<\/a> in which the founding members agreed to move ahead with creating a regional market to develop the eastern Mediterranean\u2019s estimated 122 tn cubic feet of gas reserves.<\/p>\n

The meeting hasn\u2019t escaped the attention of the foreign press<\/strong>, with Bloomberg<\/a>, Reuters<\/a> and the Times of Israel<\/a> picking up on the story.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt takes a major step towards its regional energy hub ambitions with the formalization of the EastMed Gas Forum: The Eastern Mediterranean Gas Forum is now officially an established organization headquartered in Cairo after six of the seven founding states signed its charter yesterday, marking another key step in Egypt\u2019s path to becoming the region\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":574825,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[211,92,93,72,381,2380,218],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-574824","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-cyprus","tag-eastern-mediterranean","tag-energy","tag-enterpriseam","tag-greece","tag-speed-round","tag-turkey","wpautop","entry"],"acf":{"mongo_id":"01a49990-c0a6-474a-9234-976ca6dc30c3","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/9\/249.jpg","photo_position":"above","related_issue":[574819],"teaser":"","voice_url":""},"yoast_head":"\nEastMed Gas Forum charter signed by founding members - 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Speaking on the sidelines of a regional forum in Greece, the three ministers said that the organization\u2019s charter, signed in September, will be\u2026","rel":"","context":"In "Diplomacy"","block_context":{"text":"Diplomacy","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/diplomacy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/211.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":557040,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/05\/el-sisi-ratifies-eastmed-gas-forum\/","url_meta":{"origin":574824,"position":1},"title":"El Sisi ratifies EastMed Gas Forum","author":"enterpriseam admin","date":"5 September 2021","format":false,"excerpt":"The final step to setting up the East Mediterranean Gas Forum (EMGF) and its Cairo HQ was cleared on Thursday after President Abdel Fattah El Sisi ratified its founding charter, per the Official Gazette (pdf). The regional organization officially came into being in March, after its founding members signed the\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/48.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567293,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/19\/eastmed-gas-nations-finalize-forum-charter\/","url_meta":{"origin":574824,"position":2},"title":"EastMed gas nations finalize forum charter","author":"enterpriseam admin","date":"19 January 2020","format":false,"excerpt":"The EastMed Gas Forum is finally becoming a thing: Officials from the seven founding member states of the Eastern Mediterranean Gas Forum have finalized a charter that will officially establish the organization with Cairo as its headquarters, the Oil Ministry announced in a statement. The organization, which held its third\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/633.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575669,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/22\/higher-teacher-wages-one-more-month-of-consumer-discounts-eastmed-gas-forum-charter-get-nods-from-cabinet\/","url_meta":{"origin":574824,"position":3},"title":"Higher teacher wages, one more month of consumer discounts, EastMed Gas forum charter get nods from cabinet","author":"enterpriseam admin","date":"22 October 2020","format":false,"excerpt":"CABINET WATCH- Teachers at public schools could be getting a EGP 325-475 monthly bump in their salaries if a draft law that will cost the state coffers north of EGP 6.1 bn passes the House of Representatives. Public school administrators, meanwhile, will see their monthly wages rise by EGP 150-250\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/10\/238.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563555,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/07\/world-bank-eu-join-eastmed-gas-forum-valu-launches-financing-for-saudi-german-hospital-patients\/","url_meta":{"origin":574824,"position":4},"title":"World Bank, EU join EastMed Gas Forum + Valu launches financing for Saudi German Hospital patients","author":"enterpriseam admin","date":"7 July 2021","format":false,"excerpt":"World Bank, EU become observers at EastMed Gas Forum: Members of the East Mediterranean Gas Forum have agreed to bring the World Bank and the European Union into the organization as observers during a meeting in Cairo yesterday, the Oil Ministry said in a statement. The Cairo-based forum aims to\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/71.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":621278,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/05\/turkey-can-join-in-on-eastmed-gas-after-cyprus-reunification\/","url_meta":{"origin":574824,"position":5},"title":"Turkey can join in on EastMed gas after Cyprus reunification","author":"enterpriseam admin","date":"5 November 2018","format":false,"excerpt":"When energy politics become geopolitics with a capital \u201cG\u201d: Cyprus President Nicos Anastasiades said his country will back Turkey\u2019s inclusion in energy cooperation agreements to exploit the East Mediterranean gas reserves if Turkey accepts the reunification of the island, the AP reports. \u201cWe continue to upgrade our energy cooperation with\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/550.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/574824","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=574824"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/574824\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/574819"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/574825"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=574824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=574824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=574824"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=574824"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=574824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}