Background

The European Union and the world are facing a burgeoning energy crisis with heightened price volatility and energy insecurity. Diversification of gas and LNG supply is a longstanding EU policy priority and central to EU's security of supply. Diversification of exports is to the interest of energy producers and key for security of demand. Moreover, ensuring open, flexible, liquid and well-functioning regional and global gas and LNG markets is to the benefit of all.

The EU, in line with its Strategy for an EU external energy engagement in a changing world, and the REPower EU Plan (18 May), is ramping up its efforts to increase energy security with diversified sourcing of LNG coupled with targeted actions to tackle methane emissions. Tackling methane leaks and addressing venting and flaring, could increase liquidity on global markets, while ensuring significant climate benefits. The EU has launched the EU Energy Platform to pool demand, coordinate infrastructure use and negotiate with international partners to facilitate joint gas and hydrogen purchases. In parallel, the EU contributes to the global clean and just energy transition and is working with partners towards ensuring a sustainable, secure and affordable energy worldwide, by boosting energy efficiency and the development of renewables.

Mission

The Conference, will bring together the main government and industry stakeholders from the region. It will provide a platform to exchange on short, medium and long term gas and LNG supply and demand outlook and policies, to discuss production, transportation and shipping, as well as the whole value chain infrastructure development. It will provide an opportunity to discuss the importance of targeted actions to reduce methane emissions in gas and LNG production and supply, through technical assistance and multilateral initiatives such as the Global Methane Pledge.