Algerian President Abdelmadjid Tebboune has urged the enhancement of dialogue and co-operation among member states of the Gas Exporting Countries Forum (GECF) to ensure a common and promising future for this natural resource and stability in the global market.
In a speech at the opening of the 7th Summit of Heads of State and Government of the GECF, the president underscored Algeria’s commitment to working hand in hand with everyone, with a view to ensuring a common and promising future for this natural resource by expanding and intensifying contacts and consultations between the players.
According to Algeria Press Service, he further advocated “constant and close co-operation with the members of the forum, which keeps attracting new countries to help boost the forum’s international standing and achieve its strategic objectives.”
The Algiers Declaration signed yesterday in Algiers encourages the use of natural gas as an “abundant, flexible and reliable energy source” and at the same time supports the development of more environmentally friendly technologies.
According to GECF member states, it is necessary to achieve “full control” over their natural gas reserves, with effective management to promote sustainable development, and it is necessary to co-operate on research, innovation and knowledge sharing.
The declaration therefore underlines the need to facilitate a “solid dialogue” between producers and consumers, also in order to “ensure price stability in the market”.
Furthermore, highlighting the crucial role of natural gas in achieving the United Nations’ sustainable development goals and its importance in the fight against climate change, the GECF countries condemn “unilateral economic restrictions and any use of climate change to hinder investments and reject any artificial interference in natural gas markets, including price manipulation for political purposes.
The Algiers Declaration underlines that natural gas is useful “to fight energy poverty”, and that as an “ecologically sustainable resource” “favourable regulations” should be encouraged in the field of investments.
In this regard, the GECF countries urge to promote its use “in maritime and land transport, with the development of the infrastructure necessary for efficient and economical distribution to all consumers”, and to “support long-term contracts to guarantee the stability of investments”.
As stated in the declaration, the objective is “to promote the continuous development of the forum’s skills and mechanisms through joint projects to strengthen its role as a platform for dialogue and co-operation in natural gas-related issues”.
The Gas Exporting Countries Forum is an international governmental organisation founded in 2001, and includes the world’s major natural gas producers.
The forum includes 12 permanent member states (Russia, Iran, Qatar, which are the largest producers, Venezuela, Nigeria, the UAE, Trinidad, Tobago, Algeria, Bolivia, Egypt, Equatorial Guinea, and Libya), and seven members with an observer status (Angola, Azerbaijan, Iraq, Malaysia, Mauritania, Mozambique and Peru).
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