The Gas Exporting Countries Forum (GECF), the global platform of the leading gas producing nations, today held the 13th Meeting of its Technical and Economic Council (TEC), which examines and recommends the key deliverables of the Forum in areas of short-term gas market dynamics analysis, long-term modelling and forecasting, as well as data exchange. Due to COVID-19 restrictions, the meeting was held via videoconference.
The proceedings were kicked off by the HE Yury Sentyurin, GECF Secretary General, who encouraged the participants to continue working together, a spirit which signifies the mission of the Forum.
HE Sentyurin welcomed the newly appointed TEC members and thanked former representatives for their contribution to the Council. The authority offered sincere congratulations and the best wishes of prosperity to esteemed Member Countries Algeria and Venezuela on the occasion of their National Independence Day, both celebrated on 5 July.
The meeting encompassed detailed presentations on the 2021 editions of the Annual Short-Term Gas Market Report (ASTGMR) – a new deliverable, introduced in 2020 – and the Global Gas Outlook 2050 (GGO), as well as Data Exchanged Mechanism and statistics-focused deliverables. Following the status updates on these items, TEC members provided their vision and ideas on enriching these reports and publications.
In highly interactive discussions, TEC made several suggestions, ranging from the inclusion of blue hydrogen and ammonia’s demand/supply profile in ASTGMR to the evaluation of gas balance in GGO 2050. Members also strategised ideal timings for the launch of GECF’s flagship reports in order to draw maximum leverage from a global audience.
Furthermore, the TEC members analysed the challenging facing the gas industry and reviewed several forward-looking scenarios. This well-established tradition enables the GECF Secretariat to create a multifaceted outlook, which in turn is used by the Forum’s Members to make informed decisions.
Since 2015, the Council has worked as a permanent specialised body of the GECF to provide active and efficient interaction on technical and economic matters in line with the Forum’s Long-Term Strategy. At TEC meetings, the Member Countries review research work being carried out by the Secretariat and submit their recommendations on designated activities.