Member Corner
This year marks the 50th anniversary of the First OPEC Summit, which took place in Algiers in 1975. This landmark event reshaped global energy dynamics and championed the sovereignty of resource-rich nations.
The Summit strengthened producer-consumer dialogue, promoted international economic cooperation, and reaffirmed the right of oil-producing nations to develop their natural resources in a sustainable and sovereign manner. Notably, it also led to the establishment of the OPEC Fund for International Development (OFID) in 1976, a key milestone in fostering global energy development.
The Gas Exporting Countries Forum (GECF) recognizes and celebrates the enduring role of OPEC and its Member Countries in shaping the global energy landscape. Algeria, a founding member of both OPEC and GECF, played a pivotal role in hosting this historic summit, demonstrating its leadership and vision in the global energy sector.
The principles outlined in Algiers continue to resonate, as GECF and OPEC work towards market stability, energy security, and sustainable development. We honour this legacy and reaffirm our commitment to a balanced, fair, and prosperous global energy future.