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Gas Exporters Meet in Cairo

The 24th Ministerial Meeting of the Gas Exporting Countries Forum GECF is being held on the 25th of October 2022, in Cairo, the Arab Republic of Egypt.

Tarek El Molla, the host country’s Minister of Petroleum and Mineral Resources, will chair the Meeting in his capacity as President of the GECF Ministerial Meeting for 2022.

The Ministerial Meeting is the supreme governing body of the Forum and meets once a year in accordance with the GECF Statute.

The GECF was established in 2001. In 2008, it was transformed into an international governmental organisation headquartered in Doha, the State of Qatar.

“Energy security and affordability have moved to the top of the priority list of policymakers, with sustainability taking a backseat”

The GECF comprises of 19 member countries, with Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, and Venezuela as Members, and Angola, Azerbaijan, Iraq, Malaysia, Mozambique, Norway, Peru, and the UAE as Observers.

Together, they represent 72% of the global proven natural gas reserves, 43% of marketed production, 55% of exports by pipeline, and 50% of LNG exports.

Mr. El Molla has promised, as host and chair, “to provide a constructive dialogue that will contribute to fulfilling the objectives of the Forum and all its member countries while focusing on the future role of natural gas in the energy transition process as a reliable and affordable source of energy.

“Energy security and affordability have moved to the top of the priority list of policymakers, with sustainability taking a backseat”, observes Mohamed Hamel, Secretary General of the Gas Exporting Countries Forum. “Another energy crisis, that faced daily by three billion people lacking access to modern energy services, continues unabated and has even worsened. Furthermore, the IPCC Sixth Assessment Working Groups’ reports have once again underlined the urgency of mitigation and adaptation to climate change”.

Mr. Hamel, who is Algerian, notes that Natural gas markets are going through a rapid and substantial restructuring in terms of physical flows, investment, and contractual arrangements. From being the market of last resort, Europe has become the preferred destination for LNG cargoes. In the event, “some developing countries are no longer able to satisfy their gas import needs, a situation that creates economic havoc, lowers the standard of living of their people, and gives rise to political and social instability.

“Against this backdrop, the 24th GECF Ministerial Meeting is a great opportunity to exchange views, and explore ways and means to strengthen the Forum and expand its membership. It is also an opportunity to reemphasise the crucial role of natural gas in sustainable development, and as an enabler of the energy transition – a transition that is smooth, cost-effective, just, and leaves no one behind”, the secretary general declares.

“It is all the more a great opportunity that the 24th GECF Ministerial Meeting is held in Cairo, the Arab Republic of Egypt, a very important country for natural gas markets, with a thriving, dynamic and innovative industry.  It is also a wonderful coincidence that Egypt is set to host COP 27 in Sharm El Sheikh in 2022”.

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