MENA Europe Future Energy Dialogue: Regional Integration Possibilities

Key messages from the Regional Integration Possibilities side event

• Efforts to implement SDG7 should be accelerated as progress has been slow and uneven to ensure its attainment by 2030, which was further exacerbated by Covid-19 which shifted focus away from energy access.
• The Arab countries has a high potential of energy saving especially in the building sector although there is still a lot of work to be done.
• There is a need for new business models that can attract investors in energy efficiency across the economic sectors, specifically with renewables and hydrogen.
• The Arab region should monetize its gas flaring within the framework of a circular carbon economy.
• The extractive industries have great potential to support the energy transition in the region and this should change the business model, not only in terms of financing but also on an environment, social and economic aspect.
• Integrated energy policies should be comprehensive and formulated from an energy transition perspective.
• There is huge potential of collaboration in the region, where multi-stakeholders are involved in projects and where further work can be built upon that.
• Enhancing regional collaboration between regional entities would further help to support policy advise, capacity building and projects implementation.
• The vulnerabilities in the Arab region should be turned into opportunities, especially through building capacities on the new business models, inter-regional collaborations, catalyzing private finance and building investing in appropriate infrastructure.