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In the aftermath of the Arab Spring, Southern and Eastern Mediterranean Countries (SEMCs) urgently need to nd a new path of strong and sustainable socio-economic development. Considering its macroeconomic and energy fundamentals, the region has a great potential for triggering o a new development process and the ongoing political changes can enhance such a new dynamic.
The current energy situation in the region is characterized by a rapid increase of energy demand, low energy eciency, and low domestic energy prices due to extensive universal consumption subsidy schemes. The current energy situation does not appear sustainable and poses several risks to the prospects of socio-economic development of the region.
The recent Arab uprisings could provide the EU with the opportunity to play a more meaningful role in the region in the future. Energy is a topic of key importance for both the EU and SEMCs. In view of their geographic proximity, a further market integration would be in the interest of both sides.
This book seeks to provide a comprehensive overview of the energy markets in SEMCs, and to propose a new sustainable energy transition for the overall Mediterranean region. In doing so, the book will assess a number of specic issues such as the regional outlook for electricity and renewable energy, the current situation of the oil and gas sector and its outlook, also taking into consideration the most recent hydrocarbons developments occurring in the Eastern Mediterranean area and, finally, also proposing a series of innovative financial schemes aimed at fuelling the sustainable energy transition of the overall Mediterranean region.