Middle East poised for breakthrough in European energy markets

Al-Monitor Pro Members

Gerald Kepes

President, Competitive Energy Strategies, LLC

July 11, 2022

European energy markets, especially in Germany, have just been given a crash course on national energy security given their dependence on Russian supplies, and more critically natural gas. For the MENA region’s national oil companies (NOCs) and well-positioned international energy companies (IECs), this presents a significant opportunity to provide Europe with alternative natural gas supplies. Moreover, this is a unique moment for the MENA region to secure badly needed large-scale renewables projects needed to achieve national energy security (NES) for their own markets. For Europeans, this is an opportune time to rebuild a lower-risk energy transition bridge required for robust national energy security, based on reliable, affordable and sustainable (clean) energy supplies.