GECF Takes Part in OPAL Oil and Gas Conference 2019 (OOGC)
The Gas Exporting Countries Forum (GECF) participated in the third edition of the OPAL Oil & Gas Conference, held under the auspices of the Ministry of Oil and Gas of Oman, a GECF Member Country. The Oman Society for Petroleum Services (OPAL) is an NGO and non-profit organization focusing on the Oil & Gas sector.
The GECF was represented by Eng. Mahdjouba Belaifa. Head of the GECF Gas Market Analysis Department (GMAD), where she participated as a speaker and panelist in the ‘Renewable and Future Energy Spotlight’ discussion, alongside participants from Siemens and Tradebe.
Ms. Mahdjouba Belaifa made a presentation on the ‘Role of Natural Gas and renewables in meeting growing energy demand in GCC countries: Complementarity rather than Competition’. In her presentation, she addressed the issues facing the natural gas industry, recalling that an equilibrium between global natural gas supply and demand is required to meet growing energy demand. This needs to happen through dialogue, cooperation, and investment, which are all cornerstones of the GECF’s principles. The role of the GECF in the stability of gas market was also touched on.
The key credentials of natural gas and renewables were recognized, and how natural gas can offset the drawbacks of renewables. This was illustrated by showing that the two sources of energy are complimentary and that they are ideal partners in meeting the growing energy demands, particularly in the power sector, with natural gas playing a vital role for the sustainable development of nations.
In this regard, it was indicated that natural gas will continue to play a great role in the future global energy mix (27% of global energy mix in 2050), with the particularity that GCC countries are to maintain their gas-based electricity generation.
Appropriate, consistent and sustained policies in terms of carbon prices and ETS, while ensuring social and economic stability are key to enabling natural gas to play its role in lighting people’s houses. In addition, it was reiterated that the role of R&D is of crucial importance to support the promotion of natural gas, especially in the area of GHG Emissions.
In conclusion, Ms. M. Belaifa emphasized that the GECF is strongly promoting cooperation and dialogue between natural gas producers and consumers as well as all market stakeholders.