19th Ministerial Meeting of the Gas Exporting Countries Forum
The 19thMinisterial Meeting of the Gas Exporting Countries Forum (GECF) was convened in Moscow, the Russian Federation on Wednesday, October 4th, 2017, under the Chairmanship of His Excellency Alexander Novak, Minister of Energy of the Russian Federation, as President of the Ministerial Meeting, and HE Gabriele Mbaga Obiang, Minister of Mines and Hydrocarbons of the Republic of Equatorial Guinea as Alternate President.
The Meeting was attended by Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, United Arab Emirates and Venezuela as well as the Netherlands, Norway and Oman as Observers. The Chairman of the Executive Board and the Secretary General attended the meeting.
In his opening remarks, the President of the Ministerial Meeting expressed his appreciation to the Executive Board and the Secretariat for organizing this important event and in preparing pertinent analysis and recommendations for the consideration of Member Countries including but not limited to short term market analysis report the five year working plan for the implementation of the long term strategy of the Forum, the feasibility study of the Gas Research Institute, and 2017 edition of GECF Global Gas Outlook 2040.
The Ministers reviewed the short term gas market report as well as long term gas outlook and discussed about developments, opportunities and challenges of the market now and in the future.
They exchanged views on the ways and means to take advantage of the opportunities and address the challenges based on the common understanding of the market dynamisms.
They also reviewed the Secretariat’s report about Member Countries cooperation and exchange of information on market developments and marketing as well as environmental issues.
The Ministers reiterated the importance of cooperation amongst Member Countries, as a core value of the Forum, in order to continue to stabilize the gas market and increase the gas market share in the energy mix on the basis of the principles of the Forum’s statutes, long term strategy and Summits’ declarations.
The Ministers also emphasized the importance of global community to the Paris Agreement and reiterated their resolve to pursue the promotion of natural gas and its pivotal role in responding to the Paris agreement concerns, but also as an affordable, accessible, reliable and clean source of energy.
Based on the long term strategy of the Forum, the Ministers reviewed and approved the Five-Year working Plan of the Forum. They also welcomed the Secretariat’s initiative in completing and publishing the annual statistical bulletin that contains the valuable data and information about gas markets.
The Ministers also reviewed the report on the Feasibility Study of the Gas Research Institute and decided to create the GECF Gas Research Institute in Algeria.
Additionally, cautious about the important dynamics of the gas market and it present challenges, the Ministers emphasized the importance of maintaining effective dialogue and interaction with all market players and stakeholders.
Upon the completion of two terms of tenure of incumbent Secretary General, the Ministers selected and appointed Mr.Yuri Sentyurin as the next Secretary General of GECF for a period of two years starting from January 2018.
They expressed their deep appreciation for the excellent performance and outstanding achievements of HE Dr. S.M. Hossein Adeli, the incumbent Secretary General, and wished him the best.
The Ministers appointed His Excellency Franklin Khan Minister of Energy and Energy Industries of The Republic of Trinidad and Tobago, as President of the Ministerial Meeting from January 1st until December 31st, 2018, and His Excellency, Tarek El Molla Minister of Petroleum and Mineral Resources of the Arab Republic of Egypt as Alternate President for the same period.
It was also decided that the 20th Ministerial Meeting of the GECF will convene on the 14th of November of 2018.
The Ministers expressed their appreciation to His Excellency Vladimir Vladimirovich Putin, President of the Russian Federation. The Ministers also expressed their appreciation to His Excellency Alexander Novak, Minister of Energy of the Russian Federation, and to the Government of Russian for their hospitality and excellent arrangements made for the Meeting.