MOSCOW (Shahid Ghumman): The eighth summit of the Gas Exporting Countries Forum (GECF), the organisation of gas-exporting countries, is being held today, 27 October, in the Russian capital Moscow, with President Putin, Iranian President Masoud Pezeshkian, the Emir of Qatar Sheikh Tamim bin Hamad Al Thani and heads of state and high-level delegations from other countries taking part.
According to the Kremlin, the summit will be held at the World Trade Center in Moscow, where the state of the global gas market, energy security, stability in natural gas prices, international trade sanctions and increasing cooperation among gas-producing countries will be discussed.
Yuri Ushakov, aide to the Russian President, said President Putin will deliver the opening address at the central session of the summit, in which he will set out the importance of natural gas for global economic development, the geopolitical issues facing the gas industry and Russia’s priorities for resolving them.
After President Putin’s address, the organisation’s Secretary-General, Dr Philip Mshelbila, and the heads of the delegations of the participating countries will speak. Representatives of the organisation’s observer countries, Azerbaijan, Iraq, Malaysia, Angola, Mozambique and Senegal, are also expected to attend the summit.
According to the Kremlin, Iranian President Masoud Pezeshkian, the Emir of Qatar Sheikh Tamim bin Hamad Al Thani, Equatorial Guinea President Teodoro Obiang Nguema Mbasogo, Libyan Presidential Council Chairman Mohamed al-Menfi and Mozambique President Daniel Chapo will represent their countries at the highest level at the summit. Venezuela’s acting President Delcy Rodriguez will take part in the summit via video link, while Algeria will be represented by its Prime Minister.
According to Russian officials, President Putin will also hold bilateral meetings with a number of foreign leaders on the sidelines of the summit, in which bilateral cooperation and international affairs will be discussed.
The organisation of gas-exporting countries has 12 permanent member countries, including Russia, Iran, Qatar, Algeria, the United Arab Emirates, Egypt, Libya, Nigeria, Venezuela, Bolivia, Equatorial Guinea and Trinidad and Tobago.
The organisation’s member countries hold around 70 percent of the world’s proven natural gas reserves, while their share of global gas production is 38 percent and of global gas exports around 42 percent. Their share of global liquefied natural gas exports is also reported to be around 47 percent.
According to Yuri Ushakov, aide to the Russian President, the global energy industry is currently facing issues such as geopolitical tensions, trade sanctions, threats to energy infrastructure and obstacles to investment.
He said the Moscow summit could lay the foundation for a new phase of cooperation among gas-exporting countries. Russia attaches importance to removing unnecessary obstacles to the free exchange of energy resources and technology, protecting key gas installations and increasing the organisation’s international contacts.
At the end of the summit, a Moscow Declaration is planned to be adopted, which will stress cooperation on the reliable supply of natural gas, global energy security, diversification of trade routes, the use of modern technology, reducing environmental impact and limiting unusual fluctuations in gas prices.
Earlier, on 26 October, the organisation’s 28th ministerial meeting was held in Moscow, in which representatives of the member countries discussed the global gas market, energy security and increasing cooperation among gas-producing countries.
Iran’s acting Oil Minister Hamid Bovard described cooperation between Russia and Iran on natural gas swaps, joint energy projects and the protection of gas installations as important on the sidelines of the meeting.
This eighth summit in Moscow is the second summit in the history of the organisation of gas-exporting countries to be hosted by Russia. Russia previously hosted the organisation’s second summit in 2013.
About The Author
