HELLENIC SHIPPING NEWS
Eastern Mediterranean Gas Forum possible new OPEC: experts
January 23, 2019

The establishment of Eastern Mediterranean Gas Forum (EMGF) in Cairo is likely to become a nucleus for founding a new entity for natural gas similar to Organization of the Petroleum Exporting Countries (OPEC), energy experts said. Cyprus, Greece, Israel, Italy, Jordan, Palestine and Egypt agreed on Jan. 14, 2019 to set up a forum to create a regional gas market, cut infrastructure costs and offer competitive prices. “Establishing the forum is part of the Egyptian and the eastern Mediterranean countries’ strategy to boost their economies from the rich natural gas in the region,” said Gamal Qalyoubi, professor of oil and energy of the American University in Cairo. READ MORE