On 14 January, the Energy Ministers of 7 countries created the Eastern Mediterranean Gas Forum. It will be based in Cairo and it is composed by Egypt, Israel, Cyprus, Greece, Italy, Jordan and Palestinian Authority. The aim of this forum will be to establish and organize a regional market in order to “reduce infrastructure costs and offer competitive prices” as the Egyptian petroleum minister, Tarek El Molla, affirmed. On the sidelines of the meeting, the Israeli Energy Minister, Yuval Steinitz, announced that Israel will start to export gas to Egypt, with a prevision of 7 billion cubic meters per year.
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