MIDDLE EAST AND NORTH AFRICA: Pan-Arab Regional Energy Trading Platform (PA-RETP) (Phase 2)

The objective of this programmatic activity was to provide support to Arab countries to build a shared vision and regional institutions necessary to increase energy trade within the region and neighboring markets. The following outputs were delivered: Conference on PARETP and launch of financing plan/methodology and pre-feasibility templates for financing infrastructure projects, regional Investment Master Plan (RIMP), report on identification of regional trade opportunities, revised pricing mechanism design; and an action plan. The initiative contributed to facilitating reliable integration of large-scale renewable energy, to enabling higher supply-side energy efficiency and improving gas utilization including reduced gas flaring. In a nutshell, the crossborder energy market development and trade among Arab countries would intend to optimize energy resources across MENA and enable low-carbon energy development.