NNA - Caretaker Minister of Energy and Water, Dr. Walid Fayad, on Monday delivered the opening speech of the MEDREG Conference titled "MEDREG High-Level Discussions on Gas Crises in the Mediterranean Region and the Role of Regulators", which is being held in Dubrovnik, Croatia.

The conference mainly discusses the “Energy Crisis in the Eastern Mediterranean and the Role of Regulatory Bodies" in light of the global energy crisis resulting from the ill-fated repercussions of the war between Russia and Ukraine. 

Most of the interventions during the discussion sessions revolved around the heavy dependence of European countries on Russian gas, seeking effective and quick alternatives, at a lower cost.

In his opening speech, Fayad stressed "the necessity of adopting natural gas as a sustainable energy solution in many countries.”

He briefed the conference participants on Lebanon’s gas exploration activities, expressing "Lebanon's readiness to speed up the extraction of gas and to work in the future with all friendly countries to contribute to securing and transporting gas to European countries through constructive regional partnerships."

Moreover, Fayad called on the European Union to play an active role in building lines of communication and finding sustainable solutions to issues of the conflict, as well as to the energy sector. Fayad finally expressed optimism regarding Lebanon’s ability to extract gas in line with the progress made vis-a-vis the maritime demarcation agreement in south Lebanon, which paves the way for qualified companies to start the excavation process as soon as possible.

==============R.H.