Massoud Pezeshkian, the President of the Islamic Republic of Iran, in his speech at the eighth summit of the Gas Exporting Countries Forum in Russia, emphasized the necessity of effective cooperation among member countries to reduce the vulnerability of global energy markets. He pointed out that regional tensions and unilateral sanctions have impacted the global energy market and caused instability.
Factors Affecting Energy Market Instability
Pezeshkian identified unilateral sanctions and U.S. military interventions as significant factors affecting the instability of energy markets and called for effective countermeasures against actions that threaten the stability of the global gas market. He also highlighted the Gas Exporting Countries Forum's capacity for developing multilateral diplomacy and exchanging experiences, stressing the importance of cooperation in enhancing technology and increasing efficiency.
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Iran's Capacities in the Gas Industry
The President continued his remarks by referring to Iran's high capacity for natural gas production, stating that Iran, with 300 billion cubic meters of gas production, is the third-largest producer of natural gas in the world. He also emphasized Iran's readiness to expand cooperation with foreign investors in upstream and downstream gas industry projects.
Pezeshkian noted that 95 percent of Iran's population is covered by the national natural gas network, highlighting the importance of supply and demand security in the global energy market. He pointed out that constructive cooperation could help in the fair valuation of natural gas and its enhancement in the global energy mix.
In conclusion, the President referred to the existing capacities in Iran's gas industry as a basis for private sector cooperation among member countries of the forum and emphasized the necessity of utilizing incentives and facilities provided in the oil, gas, and petrochemical industries.
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