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    GECF states call for enhancing collaboration in gas sector based on equality

    November 18, 2021 - Iranian Government News


      Tehran: The Government of the Islamic Republic of Iran websites has issued following news:

      GECF members in a joint statement urged all to enhance collaboration in the gas sector on the basis of equality, economic efficiency, and mutual respect of interests.

      "We call on countries to enhance collaboration in the gas sector on the basis of equality, economic efficiency, and mutual respect of interests," GECF member states said in a joint statement released after the 23rd GECF Ministerial Meeting.

      The GECF Members met virtually on 16 November 2021 under the Presidency of the Plurinational State of Bolivia with the aim of continuing to uphold our common vision and strengthen partnership in difficult times of the COVID-19 pandemic, declare our determination to support resilient and inclusive recovery, protect the environment and ensure efficiency and transparency of energy markets in particular natural gas market.

      While noting that high natural gas prices are not in the interest of buyers or sellers, we reiterate the fundamental role of long-term natural gas contracts and pricing based on oil/-oil products indexation to ensure stable investments in the development of natural gas resources.

      We assume, that as the global economy moves from under the shadow of the COVID-19 pandemic, the resulting shortage of natural gas from Europe to Asia, demonstrates the need for further investments in natural gas an affordable, abundant, and flexible source of energy to achieve energy access for all parts of the world in a sustainable manner.

      At the same time, we reiterate the concerns in regards to unilateral restrictions on economic and energy cooperation and barriers to trade and investments in energy and energy-related goods that hinder robust recovery and mitigation of climate change.

      We will further promote natural gas as an efficient, abundant and reliable energy resource, develop gas infrastructure and enhance investments in the gas sector.

      We reiterate that the long-term outlook for natural gas despite the recent upheavals in the energy markets remains positive, natural gas is on course to become the leading fossil fuel in the world by 2050, increasing its share from 23% today to 27% in the global energy mix.

      The GECF is fully prepared to engage in meaningful dialogue with natural gas and LNG consumers with a view to find ways to bolster the efficiency, stability, and transparency of the gas markets.

      The recent developments prove that a balanced approach to all types of energy resources and maintaining reliable and economically viable baseload electricity generation with modern natural gas power stations are essential for energy security and proper functioning of the global energy market in the face of growing energy consumption.

      With this in mind, we acknowledge that the decarbonisation of economies should be approached with careful consideration as hasty action may turn the climate agenda into an energy crisis.

      Acknowledging the outcomes of the COP26 held in Glasgow, where several world leaders backed natural gas as the harbinger to their nations’ economic and sustainable development, we will work towards reducing carbon footprint of the energy sector.

      We strongly believe that the solution is the development of new advanced technologies in the gas industry to manage and mitigate emissions while ensuring energy systems resilience.

      In this regard, as an Observer to the United Nations Framework Convention on Climate Change (UNFCCC), the GECF had urged the international community in Glasgow to look to natural gas as the solution to achieve the right balance between post-COVID-19 economic and social requirements and environmental constraints.

      We count on the GECF to further enhance the community’s work in the area of methane emissions reduction as well as to explore climate-friendly ways for using natural gas for hydrogen production.

      We are confident that natural gas including LNG will continue to play a pivotal role in attaining Sustainable Development Goals, in particular SDG 7, as well as in mitigation of climate change in line with the Paris Agreement.

      We call on countries to enhance collaboration in the gas sector on the basis of equality, economic efficiency, and mutual respect of interests.

      The 23rd Ministerial Meeting of the Gas Exporting Countries Forum (GECF) was held on 16 November 2021, under the Chairmanship of HE Franklin Molina Ortiz, Minister of Hydrocarbons and Energies of the Plurinational State of Bolivia as its President. The meeting was convened by videoconference.

      The Meeting decided that the 24th GECF Ministerial Meeting will convene in Cairo, the Arab Republic of Egypt, in October 2022.

      The Ministers and Heads of Delegation praised HE Minister Molina Ortiz for diligently serving the Forum as part of Bolivia’s 2021 Presidency.

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