Iran minister talks GECF's future goals, operation

Iran minister talks GECF's future goals, operation

Baku, Azerbaijan, Nov. 23

By Khalid Kazimov - Trend:

The Gas Exporting Countries Forum (GECF) has turned into the most important player regarding gas in the international arena, Iranian Oil Minister Bijan Zanganeh said Nov. 23.

Bijan Zanganeh has said that the presence of nine heads of state in Tehran to attend the leaders' summit of the GECF shows their will for further cooperation in the gas sector, Shana news agency reported Nov. 23.

Zanganeh made the remarks after his meeting with Russian Energy Minister Alexander Novak in Tehran this morning.

He elaborated on the forum's growing role in the global gas market and said that the members of the forum collaborate on estimating gas prices, data exchange as well as the supply and demand modules.

He also mentioned that the bilateral and multilateral meetings held on the sidelines of the ongoing GECF have had proper outcomes.

The minister further speculated that Iran would turn into a gas hub in the region.

In case a gas hub is formed, then organizing a stock exchange market for gas will also be possible, Zanganeh said.

Zanganeh expressed optimism over the expansion of bilateral ties with Russia and said that several Russian companies have hold meeting with Iranian companies to produce equipment and goods needed for Iran's upstream projects in gas sector.

The oil minister said that he is against politicizing gas market and imposing sanctions in the gas sectors of any members of the GECF.

The four-day meeting of the Gas Exporting Countries Forum kicked off on Nov.20 in Tehran and the third summit of the leaders of the GECF member states is to be held in the evening of the Nov.23 with participation of nine heads of state.

The presidents of Bolivia, Russia, Equatorial Guinea, Nigeria, Venezuela, Iraq and Turkmenistan as well as Algerian prime minister are expected to attend the meeting.

Turkmen President Gurbanguly Berdimuhammadov, who arrived in Tehran Nov.22, will attend the upcoming GECF meeting as a special guest.

Russia, Iran, Qatar, Algeria, Bolivia, Egypt, Equatorial Guinea, Libya, Nigeria, Trinidad and Tobago, Venezuela, and the United Arab Emirates, are main members of the gas exporting body. Observer countries are the Netherlands, Iraq, Oman, Peru, Azerbaijan and Norway.

GECF members account for 42 percent of global gas output, 70 percent of global gas reserve, 40 percent of piped gas transfer, and 65 percent of global trade of Liquefied Natural Gas.

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