Following the conclusion of the COP28 Summit in Dubai, United Arab Emirates, Insight Turkey organized an online panel where experts discussed the implications and outcomes of the COP28 Summit for climate change mitigation efforts. As the Insight Turkey team, we hope that the panel's comments are informative and provide a better knowledge of the issues at hand. A video of the entire panel session is available on our YouTube channel.
Over the last few years, the Eastern Mediterranean region has been struggling to capitalize on its natural gas resources due to several technical and financial obstacles and concerns over long-term access to markets in light of European decarbonization plans. These obstacles have been compounded by rising tensions and existing disputes
between regional countries. The Russia-Ukraine war and the urgent European need to find alternative gas suppliers to reduce dependence on Russia have created a window of opportunity for regional producers to find short-term collaboration arrangements to export gas to Europe. However, this rush for market access has the potential to
disrupt the region’s own energy transition to the new global economy. Alignment to grand strategies by global powers also risks undermining the regional collaboration required for climate action. Instead of prioritizing short-term gains, successful regional collaboration must focus on coordinating national energy and climate plans and developing regionally appropriate policies and solutions.