GECF Summit concludes with pledge to natural gas for secure, sustainable energy future

GECF

By Mudassar Iqbal

Algiers, Algeria, Mar 03 (APP): The 7th Summit of Heads of State and Government of the Gas Exporting Countries Forum (GECF) concluded in Algiers with the issuance of the “Algiers Declaration,” reaffirming the member countries’ commitment to promoting natural gas as a key component of a secure and sustainable energy future.
Under the leadership of Algerian President Abdelmadjid Tebboune, the summit saw the participation of leaders from GECF member countries, who convened to discuss crucial issues surrounding natural gas production, utilization, and cooperation.
In his opening address, President Tebboune emphasized the importance of GECF as a cooperation platform and highlighted the determination of its members to strengthen its role and contribution to global energy security.
Iranian President Dr. Seyyed Ebrahim Raisi and the Russian Minister for Energy addressed the summit, championing cooperation and innovation in the energy sector. President Raisi showcased Iran’s vast potential in the gas industry, extending invitations to international investors and urging collaboration among member countries to maximize utilization of resources. Echoing these sentiments, the Russian Minister for Energy emphasized the importance of collective action in ensuring stability amidst global challenges.
The “Algiers Declaration” highlighted several key points, including the sovereign rights of member countries over their natural gas resources, efficient management of natural gas resources to promote sustainable development, and cooperation to ensure balanced and reliable natural gas markets.
Member countries expressed their commitment to innovation-led practices and collaboration in enhancing the role of natural gas in improving energy access and reducing energy poverty. They also welcomed the accession of new members, reaffirming the forum’s commitment to fostering energy cooperation and dialogue on a global scale.
The outcomes of the summit underscored the importance of international cooperation and collaboration in addressing the challenges and opportunities in the global energy landscape. As member countries continue to work together, the GECF remains poised to play a crucial role in shaping a secure and sustainable energy future for all.
The 7th GECF Summit serves as a testament to the forum’s commitment to collective prosperity, energy security, and sustainable development. With ongoing efforts and collaboration, stakeholders remain optimistic about the prospects of a resilient and prosperous future in the energy sector.
At the Summit two significant MoUs were also signed. The first agreement, with AFREC, aims to combat energy poverty and enhance security in Africa through joint research and workshops. The second MoU, with ERIA, focuses on promoting sustainable energy development in ASEAN and East Asia through knowledge exchange and collaborative studies.
The Gas Exporting Countries Forum (GECF) comprises Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, and Venezuela as members, with Angola, Azerbaijan, Iraq, Malaysia, Mauritania, Mozambique, and Peru holding observer status.

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