Hamid Bord, the head of the Ministry of Oil, today (Monday, October 25) met with Sergey Tsiolkov, the Minister of Energy of Russia, and Parviz Shahbazov, the Minister of Energy of Azerbaijan, at the end of the 28th ministerial meeting of the Gas Exporting Countries Forum (GECF) in Moscow to discuss ways to develop trilateral cooperation in the energy sector.
Gas Exchange Agreement between Iran and Russia
In this meeting, Hamid Bord referred to the gas trade agreement between Tehran and Moscow and said: "A general agreement for gas exchange has been made, and the technical stages of implementing this agreement are currently being pursued and are on the verge of finalization." He added: "We hope that with the completion of the pipeline project that the Russian side is pursuing through Azerbaijan, the possibility of gas exchange between Iran and Russia will be provided in the near future."
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Strengthening Bilateral Cooperation
Bord also discussed strengthening bilateral cooperation between Tehran-Baku and Tehran-Moscow in separate meetings with the energy ministers of Russia and Azerbaijan. He emphasized the importance of regional cooperation in the energy sector and said: "Trilateral cooperation can help strengthen energy security and sustainable development in the region."
The head of the Ministry of Oil, who traveled to Moscow to participate in the 28th ministerial meeting of the Gas Exporting Countries Forum and accompany Masoud Pezeshkian, the President, at the 8th GECF summit, emphasized in his speech at this meeting the inseparable link between energy security and regional peace and stability, stating: "Interventions and military actions by the United States and unilateral economic sanctions have not only harmed the legitimate interests of the Iranian nation but have also negatively impacted investment security and the predictability of global energy markets."
GECF Summit
The 8th summit of the Gas Exporting Countries Forum will be held on Tuesday (October 26) in Moscow with the presence of the heads of member countries and their high-ranking representatives. This summit provides an opportunity to discuss strategic issues in the gas industry and strengthen cooperation among gas-producing and exporting countries.
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. Angola, Azerbaijan, Iraq, Malaysia, Mauritania, Mozambique, Peru, and Senegal are also observer countries.
These members collectively hold about 70% of the world's proven natural gas reserves, 38% of commercial gas production, and 42% of global gas exports. Their share of liquefied natural gas exports is also estimated to be around 47%.
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