Barcelona, Nov 9 – The Mediterranean Week will address the future of the supply and demand of natural gas in the Mediterranean. It will also develop topics as energy cooperation, energy security and the construction of a regional natural gas market together with the participation of the main representatives of the sector.

The meeting will take place during the 12th edition of the Mediterranean Week of Economic Leaders (MedaWeek Barcelona), from November 21st to 23rd in Barcelona and will bring together representatives of the Mediterranean Economic World, the EU and Africa.

The Association of the Mediterranean Chambers of Commerce and Industry (ASCAME), together with the Mediterranean Energy Observatory (OME), the Gas Platform of the Union for the Mediterranean (UfM) and the Chamber of Commerce of Barcelona will organize the “Mediterranean Gas Talks” next November 23rd.

The meeting will address new expectations and challenges about the discovery of natural gas in the Eastern Mediterranean and its economic implications. This area could turn into one of the main global areas of gas supply, since the estimated resources are about 122 trillion cubic feet of gas.

The organizers of the meeting stressed that to make this happen, the countries of the region should implement the mechanisms of regional cooperation necessary to attract private investment, boost regional economic growth and build up the ground base for the economic take-off in the region.

In addition, they consider that the exploitation of Mediterranean gas and the construction of a Mediterranean natural gas market is an opportunity for the European Union to limit its dependence on Russian gas.

The demand of natural gas from the Mediterranean countries practically doubled in the last two decades and the forecast is that its growth will be maintained at a rate of 1.9% per year until the year 2035.

For the stakeholders of this event, the internal and geopolitical problems are the main causes of risk. These believe that some countries will have to join their forces to make a better use of them. EFE