Iran Hosts Ministerial Gathering of Gas Exporting Countries Forum
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Tehran, Dec 8 (NationPress) The 26th Ministerial Gathering of the Gas Exporting Countries Forum (GECF) commenced in the Iranian capital, Tehran, on Sunday, according to a report from the official news agency IRNA.
Chaired by Iranian Oil Minister Mohsen Paknejad, this one-day event was graced by the presence of GECF Secretary-General Mohamed Hamel along with ministers, deputy ministers, and high-ranking officials from oil and gas ministries of GECF member nations, as indicated in the report.
During the opening ceremony, Paknejad emphasized that the meeting offered a valuable platform for the exchange of ideas and discussions among GECF members and observers.
He cautioned that the ongoing tensions and threats in the West Asia region—including issues in the Gaza Strip, Lebanon, and Syria—pose a risk to regional stability and global energy security.
Additionally, Hamel noted that since the forum's inception in 2001, the global demand for natural gas has surged by 70 percent, as reported by the Xinhua news agency quoting Shana News Agency affiliated with the Iranian Oil Ministry.
He projected that global natural gas consumption is anticipated to increase by 34 percent by 2050.
The GECF comprises 12 full members, which include Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, United Arab Emirates, and Venezuela.
Moreover, the organization has eight observer countries, five of which—Azerbaijan, Iraq, Mauritania, Senegal, and Mozambique—were present at the gathering, according to the IRNA report.
Collectively, GECF members hold 69 percent of the world's gas reserves, 39 percent of its marketed production, 40 percent of global gas exports, and 51 percent of liquefied natural gas exports, as per an overview report published on the GECF's website.
