Gas will continue to satisfy the increasing world energy needs, and will help bolster sustainable development, social progress, and environmental protection, attendees said at the 22nd Ministerial Meeting of the Gas Exporting Countries Forum, held virtually this year.
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.
The meeting 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. It is worth noting 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, as well as the exigences of the three pillars of sustainable development, namely economic development, social progress and the protection of the environment. The meeting also emphasised that natural gas will continue to be a stepping stone to sustainable development and lower energy systems’ emissions.
The meeting reaffirmed its determination to enhance the pace of cooperation to raise the efficiency of the 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 his opening remarks, Minister Abdelmadjid Attar 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, 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.
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.
