From the Gulf to the Mediterranean: The Emergence of a New Arch of Synergies on Energy and Climate

07-09-2023

Speakers

Paolo Magri, Executive Vice President, ISPI; Axel Pierru, Dr. Acting Vice President of Knowledge and Analysis, KAPSARC; Mr. Walied Gamal Eldien, Chairman, Suez Canal Economic Zone; Dr. Abla Abdel-Latif, Executive Director and Director of Research, ECES

Concept Note

Since the outbreak of the Ukraine war, the MENA region has become a natural destination for the European Union in its growing quest for non-Russian energy resources. In addition to responding to short-term energy needs, this search for diversification has offered a valuable tool for enhancing bilateral or multilateral partnerships and expanding EU-MENA relations in the long term, laying the basis for further strengthening cooperation in other fields, such as on clean energy initiatives. Indeed, as technology continues to evolve and advance, renewables and green hydrogen solutions, and the establishment of low-carbon supply chains, represent an opportunity for the region to benefit from massive investments from international actors and donors, and accelerate energy ambitions. Yet, the energy revolution together with the current global geopolitical reshuffles could also exacerbate dynamics of instability and increase tensions among the different actors in the region. In this complex framework, is a new arch of synergies on energy policies and climate action from the Gulf to the Mediterranean emerging? If so, what role for Egypt in this respect? How could the private sector contribute to reinforce these new dynamics of cooperation?