Cooperation and Development of Energy in the Mediterranean

Published on Friday, 11 July 2014

One of the biggest challenges for the Mediterranean region is satisfying rapidly growing energy demand brought about by population growth, economic development and urbanisation. Sustainable solutions to this problem require not only large investment in both infrastructure and energy efficiency but also reform of the energy sector, beginning with transparent, predictable and sustainable legislation.

With this in mind a memorandum of understanding was signed by Riccardo Puliti, the European Bank for Reconstruction and Development's managing director of Energy and Natural Resources, and Bruno Lescoeur, president of the Observatoire Méditerranéen de l'Energie (OME), at the Euro-Med: Building a Sound & Common Energy Future conference held on Rome on 24 June.

With this event, which was organised by OME, a platform and think tank for the biggest energy companies from the 12 Mediterranean nations, a partnership aimed at supporting energy security, rationalising subsidy systems for fossil fuels and strengthening sustainable development was ratified. Taking part in the event for Enel was Enel Green Power's head of External Relations Andrea Falessi, underlining the importance of the Mediterranean region – which the Group is following closely both through EGP and the upstream gas sector – for which there will be significant investment.

The conference was a chance to study the key issues regarding energy cooperation in Europe and around the Mediterranean, while at the same time offering a forum for answers to problems such as increasing unemployment and inequality in society, irreversible demographic change and immigration.

Creating secure, sustainable and affordable energy is as much a priority for European nations as it is for those in North Africa and the Middle East, and it will be key to stability and prosperity in the region. The challenge will be how to do so while taking into account the various different economic, environmental and social issues, while adopting the correct development model and regulatory approach.