GECF Summit to Explore Ways of Coordination in Global Gas Market (Qatar)

GECF’s head of members states will examine the ways of more coordination in global gas market in their upcoming meeting in Doha, Iran’s representative at the Gas Exporting Countries Forum, Mohammad Ali Khatibi said.

He went on to say that, gas market and prices as the main topics of the GECF’s summit agenda adding the meeting will seek to find some mechanisms to promote coordination in global gas market.

On October 11, Doha-based Gas Exporting Countries Forum (GECF) hosted high-level meetings in preparation for the 1st Gas Summit to be held in Qatar on November 15.

A GECF release said the executive board meeting served as a platform to present the results of the forum’s work this year and to debate on the preparations for the gas summit. It will also discuss and approve the forum’s work program and budget for 2012.

 “This international organization continuously provides the framework for sharing expertise and information among member countries with the aim of supporting their sovereign rights over their natural gas resources and abilities to independently plan and manage the sustainable, efficient and environmentally conscious development, use and conservation of natural gas resources for the benefit of people in these countries,” the GECF said.

It’s worth mentioning that, GECF includes eleven member countries while three other states attend the meeting as observers.

The member countries hold 42 percent of the global gas production, 70 percent of the world gas reserves, 38 percent of gas pipelines and 85 percent of LNG trade.

Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago and Venezuela are the eleven members of the Gas Exporting Countries Forum.

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Source: NIGC, October 18, 2011