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Thursday, March 7, 2024
The 7th Summit of Heads of State and Government of the Member Countries of the Gas Exporting Countries Forum (GECF) convened in Algiers, on March 2, with the major outcome being the approval of Algiers Declaration, focused on the natural gas as the means to a secure and sustainable energy future.
His Excellency Abdelmadjid Tebboune, the President of the People’s Democratic Republic of Algeria, affirmed that the summit “is an opportunity to draw a shared vision for preserving the interests of both gas producers and consumers alike, reflecting our commitment to the objectives of the Gas Exporting Countries Forum and our determination to enhance its role and affirm its contribution to global energy security” noting that natural gas plays “a fundamental role in achieving sustainable development and meeting the increasing global energy needs” and that Algeria “has always supported the idea of expanding the role of natural gas in sustainable development and its use as a clean source alongside new and renewable energies.”
His Excellency Tebboune added, “If we are all striving to support technological progress in this field, long-term contracts, fair prices, and policies that encourage investment in energy, then the challenges today require us to enhance dialogue and multilateral action that leads to the achievement of the goals we set upon the establishment of our Forum.” The President Tebboune 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.” The President of the Republic further advocated “constant and close cooperation 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 7th GECF Summit welcomed the accession of the Republic of Mozambique, the Islamic Republic of Mauritania, and the Republic of Senegal to the Forum, reaffirming the GECF’s collective pursuit of fostering energy cooperation and dialogue.
The 7th GECF Summit revolved around the theme “Natural Gas for a Secure and Sustainable Future.” This theme holds particular significance due to the growing importance of natural gas as an affordable, reliable, and sustainable energy resource for advancing socio-economic development and as a response to the energy trilemma of energy security, affordability, and sustainability. Additionally, natural gas stands out as a pivotal commodity for food security.
The leaders engaged in comprehensive discussions, addressing multifaceted aspects of geopolitical, economic, and current natural gas markets conditions and future prospects. Their deliberations encompassed a comprehensive analysis of both immediate and long-term challenges and opportunities within the natural gas sector.
The Algiers Declaration expressed the leaders’ resolve to “promote natural gas as an abundant, affordable, flexible and reliable energy source, and harness and develop more environmentally-friendly, efficient and sustainable natural gas technologies”.
In the context of sustainable development, there was a commitment to “advocate for the wider utilization of natural gas in domestic and international markets, especially as a strategic measure to tackle energy poverty and pursue United Nations Sustainable Development Goals. This includes championing natural gas as a pivotal source of energy for a just, inclusive and prosperous future, ensuring that no one is left behind”.
The leaders welcomed the inauguration in Algiers of the headquarters of “the Gas Research Institute to expand cooperation in, inter alia, natural gas technologies, scientifically-guided research, and innovation-led capacity-building”, for the benefit of GECF Member Countries.
Furthermore, the leaders also resolved their common determination to “contribute to the inclusion of natural gas as an environmentally sustainable natural resource in climate, investment and fiscal regulations, international banking and global trade.”
The Algiers Declaration of the 7th GECF Summit of Heads of State and Government is available here.
His Excellency Mr Abdelmadjid Tebboune, the President of the People’s Democratic Republic of Algeria, hosted the 7th GECF Summit. The Summit brought together Heads of State and Government from Member Countries, including Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, the United Arab Emirates and Venezuela, from Observer Members, namely Angola, Azerbaijan, Iraq, Malaysia, Mauritania, Mozambique, and Peru, and from Guest Countries, including Italy, Oman, Senegal, and Tunisia. The Summit was also attended by representatives from international organizations, namely the African Energy Commission, the African Petroleum Producers’ Organization, the Economic Research Institute for ASEAN and East Asia, the Organization of Arab Petroleum Exporting Countries, and the Organization of the Petroleum Exporting Countries.
His Excellency Mr Mohamed Arkab, Minister of Energy and Mines of the People’s Democratic Republic of Algeria and President of the GECF Extraordinary Ministerial Meeting; His Excellency Eng. Javad Owji, Minister of Petroleum of the Islamic Republic of Iran and President of the GECF Ministerial Meeting for the year 2024; and His Excellency Eng. Mohamed Hamel, Secretary General of the GECF; also participated in the event.
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