Egypt to host 24th meeting of Gas Exporting Countries Forum Sunday

Ahram Online , Friday 21 Oct 2022

Egypt will host the 24th Ministerial Meeting of the Gas Exporting Countries Forum (GECF) from Sunday to Tuesday under the chairmanship of Minister of Petroleum and Mineral resources Tarek El-Molla.

Tarek el molla

 

El-Molla explained that the meeting comes amid a global dialogue about energy security and just weeks ahead of the 2022 UN Climate Change Conference (COP27) set to be held in Sharm El-Sheikh 6-18 November, according to a statement from the Ministry of Petroleum and Mineral Resources.

The three-day event, El-Molla added, is an opportunity to improve cooperation among the member states that posses a large proportion of gas reserves, production and exports, and to ensure work is done an environmentally responsible manner.

The GECF comprises of 11 member states: Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago and Venezuela.

It also includes eight observers: Angola, Azerbaijan, Iraq, Malaysia, Mozambique, Norway, Peru and the UAE.

Together, these states are home to 72 percent of the global proven natural gas reserves, 55 percent of exports by pipeline and 50 percent of LNG exports.

El-Molla stressed Egypt's keenness on establishing a constructive global dialogue among member states focusing on the key role of natural gas in the transition from fossil-based energy to zero-carbon energy.

Natural gas is the cleanest fossil fuel and is affordable, the minister noted.

The GECF was established in 2001 and it was transformed into an international governmental organisation headquartered in Doha, Qatar in 2008.

The GECF ministerial meeting, which is the supreme governing body of the forum, meets once a year.

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