Eastern Mediterranean countries to form regional gas market | ZAWYA MENA Edition

Eastern Mediterranean countries to form regional gas market | ZAWYA MENA Edition:

Eastern Mediterranean countries meeting in Cairo agreed to set up a forum to create a regional gas market, cut infrastructure costs and offer competitive prices, Egypt's petroleum ministry said on Monday.

The organisation aims to "create a regional gas market that serves the interests of its members by ensuring supply and demand, optimising resource development, rationalising the cost of infrastructure, offering competitive prices and improving trade relations," among other goals, the statement said.

The announcement is part of efforts to transform the Eastern Mediterranean into a major energy hub.