Tue, 25 Oct 2022 - 06:42 GMT
Tue, 25 Oct 2022 - 06:42 GMT
CAIRO – 25 October 2022: President Abdel Fattah El Sisi received, on Tuesday, ministers participating in the 24th Ministerial Meeting of the Gas Exporting Countries Forum (GECF), which is currently in session in Cairo in the presence of Petroleum Minister Tarek Al Molla.
Presidential Spokesman Bassam Radi said that President Sisi asserted on the importance of the role played by the Gas Exporting Countries Forum (GECF) in the energy sector at the regional and international level.
The president affirmed the necessity of intensifying efforts and cooperation in all related events to make the most of natural gas, looking forward to the participation of all the forum's members in the UN climate conference, COP27, to shed light on natural gas's ability in achieving the balance between nations' prosperity and preserving the environment.
Petroleum Minister Tarek el Molla said in the inaugural speech that the meeting aims at directing the dynamics of energy transition especially in the field of natural gas and boosting cooperation between the countries of the forum.
He pointed out that the recent developments and tensions witnessed in the world caused fluctuations in the energy market and this led to a global desire to face climate change and achieve energy security to support sustainable development.
Molla said that power security and climate protection are two integrated goals, adding that Egypt is keen on quick adaptation and benefiting from the opportunities to achieve more progress and prosperity.
The role of the natural gas globally is pivotal, he said, adding that the forum is important and crucial platforms for dialogue on all the activities of the natural gas industry.
Egypt believes in the importance of boosting aspects of cooperation for the interest of all the peoples to overcome all the challenges and achieve major success and support economic cooperation between the countries, Molla said.
He lauded the positive role of the forum in gathering those who have common interest in the field of gas, asserting Egypt’s keenness on working with all the member states of the forum to develop solutions and new partnerships.
The Ministerial Meeting is the supreme governing body of the Forum and meets once a year in accordance with the GECF Statute.
The GECF was established in 2001. In 2008, it was transformed into an international governmental organisation headquartered in Doha, the capital of Qatar.
The GECF comprises of 19 member countries, with Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, and Venezuela as Members, and Angola, Azerbaijan, Iraq, Malaysia, Mozambique, Norway, Peru, and the UAE as Observers.
Together, they represent 72% of the global proven natural gas reserves, 43% of marketed production, 55% of exports by pipeline, and 50% of LNG exports.
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