Hamid Bord, the head of the Ministry of Oil, today (Monday, October 25) after the conclusion of the 28th Ministerial Meeting of the Gas Exporting Countries Forum (GECF) in Moscow, met with Parviz Shahbazov, the Minister of Energy of Azerbaijan, to examine the cooperation capacities of the two countries in the energy sector.
Development of Energy Cooperation
Bord referred to the formation of constructive cooperation between Iran and Azerbaijan in recent years and stated: "A suitable ground has been provided for the development of this cooperation, especially in the areas of technical services and technology export." The two sides also discussed gas market developments and strengthening cooperation among gas-producing and exporting countries.
Read more: Iran's Hardliners Emphasize the Development of Nuclear Weapons in Times of War with America
Historical and Geographical Relations
The energy relations between Iran and Azerbaijan have a long history. The geographical location of the two countries on the Caspian Sea and proximity to regional energy markets, along with Iran's access to an extensive transmission network, has provided grounds for the development of bilateral and multilateral cooperation in the energy sector. Azerbaijan, as one of the observer countries of the Gas Exporting Countries Forum, examined the cooperation capacities among the countries present at the forum during this meeting.
Bord also mentioned in his speech at the GECF Ministerial Meeting that the inseparable link between energy security and regional peace and stability is crucial, emphasizing that U.S. interventions and military actions, along with unilateral economic sanctions, have negatively impacted investment security and the predictability of global energy markets.
Summit of Leaders and Topics Discussed
The eighth summit of the Gas Exporting Countries Forum, with the presence of the leaders of member countries and their high-ranking representatives, will be held on Tuesday (October 26) in Moscow. This summit provides an opportunity to discuss strategic issues in the gas industry and strengthen cooperation among gas-producing and exporting countries. Other topics such as the development of the natural gas market and trends in the liquefied natural gas (LNG) industry are also on the agenda of this forum.
The Gas Exporting Countries Forum has 12 main members, including Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, the United Arab Emirates, and Venezuela. Observer countries include Angola, Azerbaijan, Iraq, Malaysia, Mauritania, Mozambique, Peru, and Senegal. The member countries of GECF hold about 70% of the world's proven natural gas reserves and 38% of commercial gas production, with their share of liquefied natural gas exports estimated at around 47%.
Read more: Geopolitical Tensions Affecting Gas Prices and Steel Production Costs in Iran · Iran's Floating Crude Oil Reserves Depleted by Mid-October
