The Ministers of the Gas Exporting Countries Forum met in Malabo, Republic of Equatorial Guinea, on November 21st, 2012, hosted by HE Gabriel M. Obiang Lima, Minister of Mines, Industry and Energy of Equatorial Guinea, to exchange views on current developments in global natural gas market and the progress of the affairs of the Forum.

The meeting was attended by Ministers and Heads of delegation from 12 Member countries, namely, Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Oman, Qatar, Russia, Trinidad and Tobago and Venezuela, as well as Observer Member from the Netherlands. 

The Secretary General of the GECF, HE Leonid Bokhanovskiy, and HE Ilya Galkin, Chairman of the Executive Board, also attended the meeting. The Ministers highlighted the importance of natural gas as a green fuel, an abundant resource and a safe, clean, reliable and efficient energy carrier. The Ministers acknowledged the Member countries’ efforts to promote stable supply of natural gas to ensure the security of sustainable demand and necessary conditions for infrastructural development and highlighted the importance of adopting non-discriminatory and predictable legal framework, energy, trade, fiscal and environmental policies to enhance development in the gas sector. 

The Ministers discussed the changing nature of gas market dynamics and the advent of new producers and consumers, technologies as well as unconventional and renewable energy sources constantly changing the energy landscape. They reiterated the Member countries’ support of international efforts aimed at addressing global environmental challenges, and also encouraged co-operation, co-ordination and exchange of views among Member countries and with all industry stakeholders to achieve the objectives of the Gas Exporting Countries Forum and agreed to hold the second Gas Summit of Heads of states and Government of the GECF in the Russian Federation in 2013, and to hold the next ordinary Ministerial Meeting in the Islamic Republic of Iran in November 2013. 

The Ministers accepted the application of the Republic of Iraq as an Observer Member. They approved the Program of Work and Budget of the GECF for the year 2013 and the appointment of HE Rostam Ghasemi, Minister of Petroleum of the Islamic Republic of Iran, as President of the Ministerial Meeting for the year 2013, and HE Mohammed Bin Saleh Al-Sada, Minister of Energy and Industry of the State of Qatar, as Alternate President of the Ministerial Meeting for the year 2013. 

The Ministers expressed their appreciation to HE Minister Gabriel M. Obiang Lima for his Presidency of the Ministerial Meeting and efforts during the year 2012.