Issue link: https://maltatoday.uberflip.com/i/1499169
THE Russian war on Ukraine has further exasperated an al- ready volatile energy market that faced instability because of the COVID-19 pandemic. Prices had already been rising due to post-lockdown energy demand exceeding supply. Fol- lowing that, the war, and then the uncertainty that ensued shot prices up through the roof. It created a situation of insta- bility, with fears of what might be if oil and gas supplies were abruptly halted. Europe depended on Russia for 40-45% of its imported gas and about a quarter of its oil. Europe depends on imports for more than 50% of its daily ener- gy needs. This effectively meant that consumers faced price vol- atility, with energy bills rising exponentially throughout the past year, leaving households struggling to heat their homes and businesses closing down. Protests on European streets over food and fuel surged in 2023. This was not limited to Europe alone. According to one Politico article, researchers de- fined an unprecedented global wave of more than 12,500 pro- tests across 148 countries over food, energy and cost of living increases in 2022. The largest protests were in Western Eu- rope. Against threats of a complete supply shutoff by Russia, Eu- rope sought to unplug itself from Russian energy, turning to alternative supplies such as the Middle East and elsewhere and accelerating investments in efficiency and developing new renewables for the European continent to become self-suffi- cient. But for autonomy to materi- alise, investment has to flow. Against this backdrop, Malta is actively calling on and leading talks with the European Com- mission to invest in renewable energy systems and make the Mediterranean a Green Energy Centre. As a net energy import- er, Europe's door of opportuni- ty with North African countries is wide open. With technology advancing and North Africa investing in renewables, this is the time for Europe to make a match. The role of the Mediterrane- an in this scenario is broad and robust: it sits as a bed for multi- ple corridors of connection and offers the potential for offshore energy generation. The Medi- terranean, therefore, would not only facilitate the flow of energy from North Africa to Europe, but it can also generate its en- ergy, complementing these ef- forts. Additionally, Europe can offer North African countries the security of supply as their economies grow. Technology has advanced so that south- ern European countries can be connected to Northern African countries through long-dis- tance, subsea interconnectors. Our geographical position makes Malta traditionally a bridge-builder in the Mediter- ranean, and we will continue to act as such, harnessing the po- tential that surrounds us. This week in Malta, we will host the European Commis- sioner for Energy, Kadri Sim- son, and the nine European Mediterranean Countries including Croatia, Cyprus, Greece, France, Italy, Portu- gal, Slovenia and Spain. During this first-ever Med9 Meeting of Energy Ministers, we want to ramp up discussions on ac- celerating the EU ambition on renewables and developing the Mediterranean into a Green Energy Centre – the centre through which multiple corri- dors of connection can be cre- ated. This Med9 Meeting antici- pates the EU-Med9 Summit, which Malta will be hosting later this year, bringing togeth- er the Prime Ministers of these nine countries. We want the Med9 meeting to come out with tangible responses: the urgent challenges that need to be tack- led to accelerate the deploy- ment of offshore renewables, the disposition and distribution of investment, reinforcing the security of energy supply and fostering collaboration with neighbouring countries. It is essential that we move beyond just talking about off- shore technologies. Despite challenges such as deep water depths, wind speeds, and in- vestment costs, the deployment of offshore technologies shows great promise. Further analysis is necessary to fully understand its economic potential in the region. However, these chal- lenges should not deter the EU from exploring this option fur- ther. I truly believe that we have all the right elements and the po- litical will to drive this forward. The Mediterranean region has great potential to become a green energy hub, which sup- ports the EU's sustainable en- ergy goals and can aid in the transition towards a low-car- bon economy. The EU aims to decrease greenhouse gas emissions by 55% by 2030 and achieve carbon neutrality by 2050, and this initiative aligns with those objectives. The REPowerEU Plan, which seeks to eliminate fossil fuel dependence, is also in line with this effort. Diversifying energy sources through the Mediterra- nean can decrease vulnerability to supply disruptions and ener- gy price fluctuations. Further- more, the TEN-E Regulation addresses the development of interconnections to connect renewable energy sources in the area with the EU network. Over the past decades, the EU has looked at the Mediterrane- an as a problem – a route for migrants, often ending in hu- man tragedies. This is the time to change this – the region's opportunity to make this sea a route for clean energy, gen- erating interesting symbiotic prospects for both sides in the process. 12 maltatoday | SUNDAY • 14 MAY 2023 OPINION Bridging the corridors of energy connections OPINION Miriam Dalli Miriam Dalli is Minister for the Environment, Energy and Enterprise