The presence of Masoud Pezeshkian, the President of Iran, at the eighth summit of the Gas Exporting Countries Forum on Tuesday, November 5 (October 27) in Moscow is considered an important event in the global energy arena. This summit provides an opportunity for discussions on gas market developments and strengthening cooperation among gas-producing and exporting countries.
Summit Agenda and Attending Officials
According to Kazem Jalali, Iran's ambassador to Russia, the twenty-eighth ministerial meeting of the forum will also be held on Monday (November 4), where Hamid Bord, the head of the Ministry of Oil, will be present. Additionally, an extraordinary executive committee meeting chaired by Seyed Ali Mohammad Mousavi, the Deputy for International Affairs and Trade at the Ministry of Oil, will take place on Sunday morning (November 3). The main documents, including the final statement of the summit, will be reviewed and finalized during this meeting.
Read more: Equinor awards engineering design contract for the Wisting project to Aibel
Goals and Importance of the Gas Exporting Countries Forum
The Gas Exporting Countries Forum serves as an intergovernmental framework for dialogue and coordination among natural gas producing and exporting countries, holding its summits every two years. The forum aims to exchange views on gas market developments, supply and demand outlook, energy security, and the role of natural gas in the global energy mix. Additionally, cooperation in developing the natural gas market and examining trends in the liquefied natural gas (LNG) industry, as well as assessing investment needs to meet future demand, are also key topics of interest for the forum.
As one of the founding members of this forum, Iran, with approximately 34 trillion cubic meters of proven natural gas reserves, is recognized as the second largest holder of gas reserves in the world after Russia. The country has participated in the administration of this forum twice under the secretariat of Mohammad Hossein Adeli and has hosted the first ministerial meeting in 2001 and several other ministerial meetings. The member countries of the forum collectively hold about 70% of the world's proven natural gas reserves and 42% of global gas exports, highlighting the significance of this forum in global energy markets.
Read more: Russian tankers trapped in the Vilkitsky Strait · FERC presents new plan to facilitate LNG project permitting
