The East Mediterranean Gas Forum’s (EMGF) Gas Industry Advisory Committee held its third meeting via video conference to prioritize the assessment of the COVID-19 impact on the regional oil and gas industry, in accordance with the subcommittee’s plans, according to a press release.
The meeting was chaired by Egypt’s representative and attended by representatives of the founding members of the forum, the Gas Industry Advisory Committee, as well as representatives of the European Union and the World Bank.
The Gas Industry Advisory Committee presented the subcommittees’ collective work plan and the timetable for the committee’s comprehensive plan for 2020-2021. Additionally, EMGF responded to the requests of major energy companies to join EMGF’s Advisory Committee. In light of the growing importance of the forum on a global level, EMGF invited those parties to join the committee and attend its meeting to contribute to the forum’s activities and goals.
Throughout the COVID-19 crisis, EMGF has continued its activities effectively despite the current conditions and their economic repercussions on the oil and gas industry. This has only strengthened the need for cooperation and coordination between all parties to face these new challenges, which align with EMGF goals.
Such goals include creating a dialogue and formulating a common vision and make the best use of the region’s potentials from gas reserves, as well as paving the way for a sustainable regional natural gas market.
The EMGF has continued to establish technical, economic, and organizational subcommittees, under the umbrella of the Gas Industry Advisory Committee. The EMGF’s subcommittees include international oil companies (IOCs), national oil companies (NOCs), and financing and development institutions.