Energy Ministers of EU-MED 9 states convened on Thursday to establish a cooperative initiative aimed at transforming the Mediterranean region into a prominent green energy hub.

The inaugural MED 9 Energy Ministerial Summit took place in Malta and was attended by the EU Commissioner for Energy, Kadri Simson. Since 2021, the group of Mediterranean EU Member States has been made up of nine countries: Cyprus, France, Greece, Spain, Italy, Croatia, Malta, Portugal, and Slovenia.

According to an official press release, the participant Cypriot Minister of Energy, Commerce, and Industry, George Papanastasiou, emphasized the need to mitigate future energy crises by avoiding dependence on a single or limited energy sources. In light of the conventional fuels’ persistent price volatility, Mr. Papanastasiou stressed the imperative of transitioning towards renewable energy sources.

He further highlighted Cyprus’ priority to interconnect its energy network with neighboring countries such as Greece, Israel, and Egypt, in order to reduce its energy isolation. Mr. Papanastasiou also referred to the ongoing initiatives in Cyprus, including the upgrade of electricity transmission and distribution networks and the implementation of energy storage systems. Both initiatives aim to enhance the contribution of renewable energy sources to the country's energy sector.

Moreover, the first EU-MED 9 Energy Ministerial Summit concluded with a Joint Statement, reaffirming the commitment of the nine Mediterranean EU member states to fortify energy security, ensure affordable energy prices, and expedite green energy transition, in alignment with the EU's target to achieve climate neutrality by 2050.

In the Joint Statement, the energy ministers agreed to establish an appropriate governance structure, such as a Steering Committee composed of MED 9 countries’ representatives, tasked with formulating a work program to address the aforementioned goals. The committee will be supported by technical and scientific experts, thus serving as a platform to unleash the full potential of the Mediterranean region in its energy transition.

Additionally, the ministers decided to coordinate efforts to expedite cross-border permitting for transmission and offshore infrastructure within the region, while ensuring equal opportunities for all EU-MED 9 countries to partake in green investment schemes.

Furthermore, the ministers extended an invitation to the European Commission to conduct a comprehensive report, assessing the Mediterranean region's potential to serve as a green energy transmission corridor among non-EU and EU countries. They also urged the European Commission to explore options for enlarged funding dedicated to interconnections between EU and non-EU Mediterranean countries, particularly those facilitating the creation of green energy corridors.

The Joint Statement concludes by expressing the collective commitment of the EU MED states to enhance energy security, affordability, and accelerate the transition towards renewable energy. This commitment aligns with the European Union's shared objective of achieving climate neutrality by 2050. Furthermore, the statement emphasizes the joint efforts of the Mediterranean region to establish clean, secure, and diversified energy sources throughout the area, yet acknowledging the challenges that lie ahead as well as the existing ones.