Mr President,
Excellences,
It is with great respect that I extend my sincerest congratulations to the Republic of Azerbaijan, an esteemed member of the Gas Exporting Countries Forum, for its exceptional efforts and exemplary arrangements in hosting COP29.
Natural gas fulfills 23% of the world’s primary energy needs. It plays a crucial role in driving economic growth, improving living standards, reducing household pollution, enhancing urban air quality, and lowering greenhouse gas emissions.
Natural gas is a partner of intermittent renewables, providing backup and stability when the sun is not shining, the wind is not blowing, or hydropower faces limitations due to drought.
Moreover, through cost-competitive blue hydrogen, it offers a viable pathway to decarbonize hard-to-abate industries.
Finally, natural gas plays an essential role in global food security, serving as the primary feedstock for fertiliser production.
As the world's population grows, the economy expands, and human living conditions improve, the world will need more natural gas, not less.
The Algiers Declaration, adopted at the 7th GECF Summit of Heads of State and Government, reaffirmed the determination of member countries to strengthen collaboration aimed at expanding the role of natural gas in sustainable development and ensuring the reliability and resilience of natural gas systems.
The Declaration also called for timely investment, unhindered financial flows, access to technology, and knowledge transfer in a non-discriminatory manner.
The outcome of COP29 should facilitate financing for natural gas projects and scaling up cleaner technologies such as carbon capture, utilisation, and storage. This is crucial for ensuring just, inclusive, and orderly energy transitions that leave no one behind.
The full Statement can be watched at: https://www.youtube.com/watch?v=fs0UALCxZfw