RIYADH: Lebanon, Libya and Algeria could all eventually become members of the EastMed Gas Forum according to a top Egyptian industry official.
Mohamed Saad El-din, chairperson of the Liquefied Petroleum Gas (LPG) Investors Association said the Eastern Mediterranean holds more than 200 million cubic feet of gas and that the addition of more members would strengthen the organization’s global reach, Al Arabiya reported.
The discovery of vast gas reserves in the Eastern Mediterranean is rapidly reshaping the global energy landscape and reviving the economic fortunes of countries such as Egypt and Israel. However it has also sparked intense regional rivalries and disputes over maritime drilling rights.
El-din said that the EastMed Gas Forum had grown in stature and compared the organization to OPEC in its potential to maintain order in the industry.
Cairo is hosting the meeting of the EastMed Gas Forum for the first time. Egypt, Israel, Cyprus and Greece, Jordan, Palestine and Italy are its members.
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