The Role of Gas in Eastern Mediterranean Economies

 Today, April 23rd 2025, The International Gas Union (IGU) and The East Mediterranean Gas Forum (EMGF) have released a joint report entitled The Role of Gas in Eastern Mediterranean Economies and the Path to the Energy Transition.

Significant discoveries of natural gas fields (Zohr (Egypt) and Leviathan (Israel), Aphrodite (Cyprus)), have dramatically boosted the region's status in the energy landscape. Besides these promising finds, the Eastern Mediterranean holds considerable untapped potential.

As the East Mediterranean Gas sector continues to develop, there are numerous avenues for investment for foreign direct investments (FDIs) or public-private partnerships (PPPs) ranging from upstream exploration and production to midstream infrastructure projects such as pipelines and LNG terminals and downstream activities such as energy distribution networks.

Other promising regional investment opportunities are developing and deploying decarbonisation technologies such as Carbon Capture and Storage (CCS) and Carbon Capture, Utilisation and Storage (CCUS).

Mr. Menelaos (Mel) Ydreos, the Secretary General of the IGU, said: “Gas is essential to human progress and global growth, and this resource base will be vital for ensuring energy security in a region characterised by rapidly growing economies and expanding populations. The Eastern Mediterranean’s natural gas reserves also offer a promising opportunity to supply Europe and other markets with a cleaner energy source, contributing to the global emissions reduction efforts.”

Mr. Osama Mobarez, the Secretary General of the EMGF, said: “This report underscores the strategic role of the Eastern Mediterranean in the global energy transition. By leveraging our natural gas resources and accelerating the deployment of decarbonisation technologies, the region can contribute to energy security, economic growth, and climate action—both regionally and globally. The EMGF remains committed to fostering cooperation among its member countries and with international partners to unlock the full potential of this promising energy hub”

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For any additional inquiries regarding this Report, please contact the EMGF Secretariat at secretariat@emgf.org, or Mark McCrory – IGU’s Director for Strategy and Advocacy, at mark.mccrory@igu.org

About EMGF

The East Mediterranean Gas Forum (EMGF) is a regional organisation promoting dialogue and cooperation among East Mediterranean countries for the sustainable development of natural gas resources. Headquartered in Cairo, Egypt, EMGF brings together 8 member countries, which include gas-producing, consuming, and transit nations, along with 3 observers.

The Forum’s unique structure fosters collaboration between governments, the private sector, and regulatory bodies. It includes a Gas Industry Advisory Committee (GIAC), comprising 36 leading companies in the energy sector, as well as a Regulatory Advisory Committee (RAAC), consisting of regulators from all eight (8) member countries. This framework enables informed, strategic dialogue and cooperation, supporting regional energy integration, security of supply, and sustainable energy solutions.

About IGU

The International Gas Union (IGU) is the spokesperson of the global Gas industry, with members in over 70 countries across the globe, covering over 90% of the global Gas market across every segment of the value chain, from the supply of natural and decarbonised gas, renewable gas and hydrogen, through to their transmission and distribution, and all the way to the point of use.

IGU presents the world’s leading international Gas events, including the World Gas Conference (WGC2025), the International Conference and Exhibition on Liquefied Natural Gas (LNG2026), and the International Gas Research Conference (IGRC2027) series.

The IGU also publishes the global Gas industry’s annual flagship reports: Wholesale Gas Price Survey, World LNG Report, and the Global Gas Report. IGU has also released its first Manifesto.

The IGU was established in 1931, is a not-for-profit membership organisation registered in Vevey, Switzerland, with its Secretariat based in London, United Kingdom.