HomeRegional NewsAfricaForum for gas exporting countries reviews market position

Forum for gas exporting countries reviews market position

This year’s forum for gas exporting countries assessed the current dynamics in the natural gas industry and acknowledged that the fundamentals that will drive natural gas’ projected growth to the top of the global energy mix remain unchanged.

The forum, hosted by Algeria via videoconferencing, noted that natural gas is the fastest-growing fossil fuel in the world and will become the leading source in the global energy mix by mid-century, increasing its share from 23% today to 28%.

The Ministers stressed that this abundant and flexible source of energy will continue to satisfy the increasing world energy needs. Ministers also viewed the market as playing a key role in the three pillars of sustainable development, namely economic development, social progress and the protection of the environment.

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The gas exporting countries’ forum attendees also emphasised that natural gas will continue to be a stepping stone to sustainable development and lower energy systems’ emissions.

Gas Exporting Countries Forum remains relevant

The Meeting reaffirmed its determination to enhance the pace of cooperation to raise the efficiency of the Gas Exporting Countries Forum (GECF).

It also acknowledged the resilience displayed by the Member Countries in their attempt to ensure unrestricted functioning of free and flexible gas markets, as well as uninterrupted supplies to customers, in spite of numerous challenges and decline in revenues.

In the Chairman’s opening remarks, Minister Abdelmadjid Attar, the minister of energy in Algeria, provided an overview of the developments in the gas industry and outlined the strategic imperatives that will carry it forward, as well as the key role of the GECF as a unique platform for multilateral dialogue between gas exporting countries and gas-consuming countries and the industry.

Yury Sentyurin, the GECF secretary-general, presented the Management Report of the Secretariat, highlighting the various activities undertaken in 2020 and aimed at realising the vision as enshrined in the 2019 Malabo Declaration, the Forum’s Statute, its Long-Term Strategy, the 5-Year Working Plan, and the 2019 and 2020 Programmes of Work.

An advanced 2020 edition of the Forum’s flagship publication, Global Gas Outlook 2050, was presented to the Meeting, based on the GECF Global Gas Model. Ministers welcomed the launch of the 2020 edition of the GECF Annual Statistical Bulletin and appreciated the data-driven insights that it provides. Furthermore, the Ministerial Meeting hailed the brand-new GECF Annual Short-Term Gas Market Report.

In the area of research, the Ministers commended the achievements made in the establishment of the Gas Research Institute in Algeria.

Planning for the Summit in 2021 and 2023

The Meeting approved the policy and procedures for the GECF Awards. The public launch of the GECF Awards will start in 2021 and will culminate in a gala ceremony to be held on the sidelines of the 6th GECF Summit of Heads of State and Government.

In reviewing the status report on preparations of the 6th Summit, the Ministers recorded their satisfaction with the progress made by the State of Qatar as the host of this flagship biennial event, scheduled to be held in Doha on 18 November 2021. The People’s Democratic Republic of Algeria will host the 7th GECF Summit in Algiers in 2023.

The Ministerial Meeting appointed His Excellency Franklin Molina Ortiz, Minister of Hydrocarbons, the Plurinational State of Bolivia as President of the Ministerial Meeting for 2021, and His Excellency Senator the Honourable Franklin Khan, the Minister of Energy and Energy Industries of the Republic of Trinidad and Tobago, as Alternate President for the same period.

Furthermore, the Ministerial Meeting appointed Eng Mohamed Hamel from Algeria as the Executive Board Chairman and Eng Angel Gonzalez Saltron from Venezuela as the Alternate Chairman of the Executive Board for the same period.

Additionally, it was decided that the 23rd Ministerial Meeting of the GECF will convene in Doha, the State of Qatar on 16 November 2021.

The Ministers and Heads of Delegation extended their appreciation to HE Minister Abdelmadjid Attar for leading and guiding the functioning of the GECF under Algeria’s 2020 Presidency.

The 22nd Ministerial Meeting of the Gas Exporting Countries Forum (GECF) was held on the 12 November 2020, under the Chairmanship of HE Abdelmadjid Attar, Minister of Energy of the People’s Democratic Republic of Algeria as its President. The meeting was convened by videoconference.

It was attended by Energy Ministers and top authorities from Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, and Venezuela, as well as Angola, Azerbaijan, Iraq, Malaysia, and Norway as Observers.

Heads of Energy Administrations of Indonesia, Mozambique, Senegal, Tunisia, and Turkmenistan along with the leadership of ERIA, IEF, and OPEC attended the opening session as the guests of the Forum

Nicolette Pombo-van Zyl
As the Editor of ESI Africa, my passion is on sustainability and placing African countries on the international stage. I take a keen interest in the trends shaping the power & water utility market along with the projects and local innovations making headline news. Watch my short weekly video on our YouTube channel ESIAfricaTV and speak with me on what has your attention.