GECF Participates in 9th Bosphorus Summit in Turkey
The GECF was invited by the Al Attiyah Foundation to the 9th Bosphorus Summit in Turkey to share its views on natural gas demand for the panel discussion on "THE INTERNATIONAL GAS TRADE AND ITS DEMANDS".
The GECF was represented by Ms. Mahdjouba Belaifa, Head of the Gas Market Analysis Department, to deliver the GECF views and key messages on the necessity to promote natural gas as the fuel of choice for sustainable development, on the basis of the principles of the forum and the extensive internal work of the GECF Secretariat.
The Abdullah Bin Hamad Al-Attiyah International Foundation for Energy and Sustainable Development is a non-profit organization, established to preserve and build upon H.E. Al-Attiyah's 40 years of service in the energy industry. His experience includes important roles in a variety of senior leadership positions within the Government of Qatar and the international community on issues confronting humanity, including climate change and sustainable development. https://www.abhafoundation.org/
Since its establishment in 2010, the Bosphorus Summit is a platform for debate on high level issues covering economies, diplomacy, trade, politics, energy, organized by the International Cooperation Platform (ICP), that brings together the regional investors, entrepreneurs, politician and energy players.
This is the second year the GECF has been invited to this event by the Al Attiyah Foundation to contribute to the debate on energy issues in general, including on the role of natural gas.
This year, a panel composed of experts from IMF, GECF, Oxford Institute for Energy Studies, the Hague Centre for Strategic Studies and Qamar Energy, discussed a variety of subjects, including the following:
- The effect of energy efficiency on demand growth in high income countries, the continuous growth of the demand for natural gas, contrary to the slowing down of oil and coal; and how the meeting of future gas demands will require a substantial increase in Middle East production and exports;
- The impact of the Southern Gas Corridor on the regional European and Turkish gas market;
- The Middle East gas market in general, during which debate it was highlighted that national companies are prioritizing more natural gas and that domestic gas demand in the region is facing competition from renewables, nuclear, coal and improved efficiency.
- European gas security of supply: A Dutch perspective
- Global Natural Gas Demand: Which Pathways and What Opportunities & Challenges?
The GECF delegate highlighted the great role of GECF in supplying natural gas and its contribution to the stability of gas market through resilient supplies of natural gas and LNG.
The key message delivered in this regard highlighted the prospects for natural gas demand growth in existing and emerging markets, as well as in emerging sectors such as Natural Gas Powered Vehicles (NGV) and LNG as a bunkering fuel. Additionally, Ms.Belaifa reiterated the vital role of the GECF in supplying the growing natural gas demand. Furthermore, she stressed that dialogue, cooperation and greater advocacy for natural gas as a fuel of choice for sustainable development are key for the expansion of natural gas.