The East Mediterranean Gas Forum (EMGF) and Boston Consulting Group (BCG) are pleased to announce the commencement of phase two in the development of the EMGF’s long-term strategy. BCG will support the EMGF as it puts in place a strategic roadmap and a best-practice operating model in order to deliver on the EMGF’s vision.
 
Over the last decade, many significant gas discoveries have been made in the Eastern Mediterranean region. In tandem, the pivotal role of natural gas in the energy transition has become increasingly clear. Against this backdrop, the EMGF was established in September 2020 to help unlock the full gas resource potential in the Eastern Mediterranean through structured policy dialogue and cooperation. The EMGF Member Countries are currently Cyprus, Egypt, France, Greece, Israel, Italy, Jordan, and Palestine; and its observers are the United States, the European Union, and the World Bank.
 
To support EMGF with the establishment of an effective long-term strategy which is funded by the European Union, BCG was appointed in September 2021 to carry out phase one of the project. Phase one, among other components, consisted of the development of the forum’s vision statement, mission statement, purpose, and core values. In addition, seven strategic objectives were set to articulate the role of EMGF along the natural gas value chain (upstream, midstream, and downstream) and enablers (Environment & energy transition, advocacy, private sector engagement, and data sharing).
 
“The Eastern Mediterranean region has an exciting future ahead as a significant resource for natural gas, which is a key driver of the energy transition. The EMGF has progressively evolved into the most renowned Energy Forum in the Mediterranean region. The significance of the EMGF goes beyond energy; it is a pivotal enabler of regional peace, and a vital engine for economic growth and prosperity,” said His Excellency Mr. Osama Mobarez, EMGF Secretary General.
 
Phase one has been successfully completed and approved by Ministers of the member countries. Consequently, BCG will now carry out phase two of the project over the next few months. This second phase of the long-term strategy project will include translating the short- and medium-term targets into a set of actionable initiatives.
 
The announcement is being made at the 2022 Egypt Petroleum Show (EGYPS), the leading oil, gas, and energy exhibition and conference event for Egypt, North Africa, and the Mediterranean, in Cairo. The event is under the patronage of His Excellency Abdel Fattah El Sisi, President of the Arab Republic of Egypt, and is supported by His Excellency Tarek El Molla, Minister of Petroleum & Mineral Resources.
 
 
“We are delighted that BCG has been chosen to carry out the second phase of this important project to create an impactful long-term strategy for the EMGF, thereby helping the organization to deliver on its ambition and promote the use of natural gas as a low-carbon, sustainable energy source. We are also pleased to be working alongside Member Countries in the Eastern Mediterranean, a region with abundant resource potential,” said Francesco Palmieri, BCG managing director & senior partner, and a co-leader of the project.