O&G exporters must diversify their economies and energy systems to prepare for the energy transition. The Mediterranean has immense potential for clean energy production – yet alongside this promising future, the transition will also bring transboundary impacts. For countries like Algeria and Libya, whose fiscal revenues rely on the O&G sector, the decline can severely restrict their economic development and hinder transition efforts. This event will explore transformative, collaborative approaches to support Mediterranean countries at this crossroads of the transition. Speakers will discuss how better data (including modelling) on the socioeconomic impacts of demand decline can strengthen the capacity of exporter countries to plan economic diversification strategies and balance transition trade-offs. International cooperation – including upcoming Euro-Mediterranean partnerships – must also be leveraged to overcome implementation barriers, such as finance and technology transfer.
