Iranian lawmaker stresses GECF’s importance

Business Materials 23 November 2015 19:24 (UTC +04:00)

Tehran, Iran, Nov. 23

By Khalid Kazimov, Temkin Jafarov - Trend:

An Iranian lawmaker has said that forming Gas Exporting Countries Forum (GECF) is as important as forming OPEC.

"The 3rd GECF Summit is of high importance as the GECF members account for 42 percent of global gas output and the 67 percent of global gas trade," Ahmad Sajadi, Iranian lawmaker told Trend Nov. 23.

He further added that the ongoing summit will pave the way for state members to establish friendly ties.

"Unity among the members will have a considerable impact on the price of gas in global market in future," Sajadi said.

He also spoke about the recent decision of Azerbaijan to become a member of the GECF and said the neighboring country's role in gas sector is significant.

The press office of Azerbaijan's Energy Ministry told Trend Nov. 21 that Baku gave its agreement in principle to get the status of an observer in the GECF.

The 3rd GECF Leaders Summit was held in the Iranian capital of Tehran.

Presidents of Bolivia, Russia, Equatorial Guinea, Nigeria, Venezuela, Iraq and Turkmenistan, as well as Algerian prime minister attended the meeting.

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.