42nd Executive Board Meeting of the Gas Exporting Countries Forum
The Gas Exporting Countries Forum (GECF) held its 42nd Executive Board Meeting on 28-30 June 2022, via a hybrid format for the first time in over two years.
The second EB Meeting of the year 2022 enjoyed the participation of Member Countries Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, and Venezuela. Iraq, Malaysia, Mozambique, Norway, and the UAE joined as Observers.
The EB Members reviewed the Forum’s performance and how it is successfully navigating the variety of challenges arising from the global COVID-19 pandemic and energy crises.
This resilience was acknowledged by meeting Chairperson, Ms Penelope Bradshaw-Niles, Executive Board Member from Trinidad and Tobago, who appreciated the virtual and now hybrid formats adopted for the GECF Executive Board to effectively maintain connectivity between Member States through the hard work and support of the GECF Secretariat.
“As we begin to emerge from a considerably long period of isolation, the collaborative spirit of the GECF Executive Board has been and continues to be a shining testament to our commitment to supporting the sovereign rights of Member Countries over their natural gas resources and their ability to independently plan and manage the sustainability, efficiency and conservation of natural gas resources for the benefit of their peoples,” said Ms Bradshaw-Niles.
Presenting the traditional Management Report, HE Hamel noted that the meeting is being held at a special juncture, characterised by heightened macroeconomic risks, accelerating inflation, deepening energy, food and commodities scarcity, growing supply-chain dislocations, as well as rising geopolitical tensions.
“In the face of these challenges, I believe that the role of the GECF is even more important, as an advocate for expanded natural gas use, a platform for positive and unbiased dialogue and cooperation among Members Countries and between producers and consumers, and as a source of authoritative analysis. It has to be agile, innovative and forward-looking,” said HE Hamel.
Over a period of three days, the Executive Board considered many matters pertaining to the GECF’s deliverables and functions, including Global Gas Outlook, Short Term Gas Market Report, Annual Statistical Bulletin, Gas Research Institute, Long-Term Strategy, Programme of Work for 2023, budget and vacancies, among others.