The Gas Exporting Countries Forum (GECF) held its 39th Executive Board (EB) Meeting on 13-14 July 2021 via videoconference. The Meeting enjoyed participation of Executive Board Members of Algeria, Bolivia, Egypt, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, and Venezuela. Azerbaijan, Iraq, Malaysia, Norway, and the UAE made a tribute as Observers.
The second EB Meeting of the year, held over a span of two days, reviewed the updates and milestones to-date and delivered important decisions for the upcoming period. One of the key announcements to stem from the assembly was the kick-off of preparations for the 23rd GECF Ministerial Meeting to be held on 16 November 2021. The annual GECF Ministerial Meeting is the highest body of the Forum and sets the course for the entity currently representing the voice of 18 Member Countries on natural gas.
Opening the proceedings and serving as the Alternate Chairman, Eng. Ángel González Saltrón, EB Member of Venezuela, reminded the participants about the challenges and opportunities that lie ahead of them especially as natural gas is being positioned to fulfil a far greater role in the global energy transition.
HE Yury Sentyurin, GECF Secretary General presented the comprehensive Management Report, which detailed the progress and achievements made by the Secretariat in the period under review.
“Facing the unprecedented challenges and restrictions, it was of primary importance to keep the activities’ dynamics at the pre-COVID-19 level. This required a serious adaptation of what we used to call “business as usual” and its adjustment to the new realities. The Secretariat has been doing its utmost to extend all type of support and collaboration to our esteemed Members, as well as provide an adequate and ample respond to emerging challenges,” he said.
The subsequent sessions packed big-ticket items from upcoming budgetary expenses and vacant positions to the Programme of Work for 2022.
“The updated Global Gas Model now covers four (4) new countries in its energy balance calculations. The model has enhanced hydrogen sector and carbon capture module to keep track of possible developments… Subsequently, the 2021 edition of the Global Gas Outlook 2050, will have new features including Blue Hydrogen Scenario, carbon neutral scenario, the impact of technologies on the future of natural gas, insights on methane emissions and abatement practices, advanced cooperation with OPEC,” highlighted the Secretary General when reporting upon the progress of the landmark deliverable of the Forum, which is due to be submitted for the upcoming Ministerial Meeting consideration this November.
The latest developments, emerging trends, including the recent EU’s raft of climate change proposals, aimed at pushing it towards its goal of becoming carbon neutral by 2050, along with their impact on gas producers and exporters have been revised under the ‘Annual Short-Term Gas Market Report’ agenda item.
The Meeting received a progress report on the GECF Gas Research Institute in Algeria and appreciated the strides achieved in practical implementation of this research and development ground-breaking project on advancing the use and role of natural gas. The Institute’s Scientific Committee’s achievements have been reported by the Committee incumbent Chairperson – a representative from Bolivia.
“In terms of the data cooperation, the exchange continues to be fluid, with strong interaction between the Special Envoys for Data and Statistics and the Secretariat. In the annual perspective, the goal is to reach a global percentage of at least 90% of expected data, in order to get more comprehensive annual data. A challenge that we are confident our Member Countries are able to accomplish,” – asserted Dr Yury Sentyurin, when GECF Data Exchange Mechanism came under the purview of discussion.
The status report on the 6th GECF Summit of Heads of State and Government was commended by the EB Members, who appreciated the advanced stage of preparations to this signature biennial event of the Forum community.
The Executive Board is a governing body of the GECF, second only to the supreme authority vested in the Ministerial Meeting. It directs the operational affairs of the Forum, implements the decisions of the Ministerial Meetings, and considers the yearly Programme of Work of the Secretariat for further approval by the Ministerial Meeting, in accordance with the GECF Statute, Long-Term Strategy, and the 5-Year Working Plan.