Cooperation Strategy Among Mediterranean Countries Integrating Energy Security, Decarbonization Policy, and Industrial Reshoring

The European Union has updated its energy strategy to address its well-known dependence on non-European natural gas, paving the way for significant opportunities beyond energy security. Indeed, the new European energy strategy envisages renewed geostrategic cooperation in the Mediterranean, increased energy savings, diversification of energy supply, and accelerated deployment of renewables, while strengthening economic growth in Europe and its partners. As for the Mediterranean, geostrategic cooperation could combine economic development and renewable energy production. Our objective is to assess the energy potential of Mediterranean countries in terms of renewable energy generation in order to pursue more sustainable energy strategies and policies, to evaluate the potential of hydrogen as an alternative energy source to natural gas in the Mediterranean region, and to explore the profiles of potential cooperation between Mediterranean countries in terms of common policies for the relocation of industrial activities. The results suggest that the combination of decreasing costs of hydrogen production, the competitive labor market in the Mediterranean countries studied, and the job multipliers of renewable energy sources is likely to be a lever for economic development.