Hamid Bord, the head of the Ministry of Oil, traveled to Moscow, the capital of Russia, this morning (Sunday, November 3) to accompany Masoud Pezeshkian at the eighth summit and to participate in the twenty-eighth ministerial meeting of the Gas Exporting Countries Forum.
Details of the Ministerial Meeting
The twenty-eighth ministerial meeting of the Gas Exporting Countries Forum will be held on Tuesday (November 4). This meeting takes place one day before the summit of the forum and will discuss topics such as gas market developments, energy security, and the future of supply and demand.
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Executive Board Plans
An extraordinary meeting of the executive board, chaired by Seyed Ali-Mohammad Mousavi, Deputy for International Affairs and Commerce of the Ministry of Oil, will also be held today. The purpose of this meeting is to review and finalize the main documents, including the final statement of the summit.
The Gas Exporting Countries Forum is recognized as one of the intergovernmental frameworks for dialogue and coordination among natural gas producing and exporting countries. This forum aims to exchange views on gas market developments, the outlook for supply and demand, energy security, and the role of natural gas in the global energy mix.
Topics of Interest to the Forum
Collaboration in the development of the natural gas market and assessing investment needs to meet future demand are other topics of interest to this forum. Additionally, trends in the liquefied natural gas (LNG) industry are also on the agenda of these meetings.
The summit of the member countries of the Gas Exporting Countries Forum is held every two years. The first summit of this forum was held in 2011 in Doha, Qatar, followed by Moscow in 2013, Tehran in 2015, Santa Cruz, Bolivia in 2017, Malabo, Equatorial Guinea in 2019, Doha in 2022, and Algiers in 2024 hosting the subsequent sessions of this summit.
Members of the Gas Exporting Countries Forum
This 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. The observer countries of this forum include Angola, Azerbaijan, Iraq, Malaysia, Mauritania, Mozambique, Peru, and Senegal.
According to announced statistics, member countries hold approximately 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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