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Over 140 bcm/yr of new gas pipeline capacity expected from GECF countries

Oil&Gas Materials 26 September 2018 10:17

Baku, Azerbaijan, Sept.26

By Leman Zeynalova – Trend:

Over 140 billion cubic meters of new gas pipeline capacity per year from Gas Exporting Countries Forum (GECF) countries is forecast to come online in 2018-2020, said Yury Sentyurin, Secretary General of the GECF (Gas Exporting Countries Forum), speaking to Wood Mackenzie.

He noted that Russia will account for 89 percent of this volume.

“In addition, total GECF gas production continued to increase sustainably. It recorded growth of 0.8 percent in 2017 compared to 2016, rising 85 billion cubic meters to 1.64 trillion cubic meters and representing 45 percent of global production,” said Sentyurin.

Sixty-five percent of the total incremental gas production of 2017 was attributed to GECF member countries, he noted.

“The other objectives of the long-term strategy in terms of views on the gas market, co-operation, promotion of gas and international positioning of the GECF saw initiatives that have been reflected in the summits declarations and ministerial meetings resolutions,” said Sentyurin.

GECF secretary general noted that among such initiatives, one can mention the creation of the GECF Gas Research Institute in Algeria, as a co-operation among member countries in the area of technology and human resources development; the Joint Organizations Data Initiative (JODI), the global gas outlook.

“Other initiatives are being matured in the forum for partnership in the future to expand our relations with major stakeholders.”

Follow the author on Twitter: @Lyaman_Zeyn

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