Moscow, 26 October. The 28th ministerial meeting of the Gas Exporting Countries Forum (GECF), preparing the organisation's eighth summit on 27 October, opened in Moscow on Monday.
Russian Energy Minister Sergei Tsivilev told participants that the forum's countries "together hold 70% of the world's gas reserves and provide 40% of world production".
According to Tsivilev, GECF countries also account for about 40% of world pipeline gas exports and around 50% of LNG exports, and Russia is ready to supply technological developments for cooperation within the forum. The day before, on 25 October, a high-level working group led by Iran's deputy oil minister reviewed the draft summit declaration. Leaders of 24 countries have been invited to the summit. The agenda covers the role of gas in energy security, structural changes in the world market, investment, dialogue between producers and consumers, and the protection of critical energy infrastructure.
The GECF is an intergovernmental organisation of gas-producing and exporting countries; its first ministerial meeting was held in Tehran in 2001. It has 12 full members and 8 observers, including Russia, Iran, Qatar, Algeria, Nigeria and Venezuela. Summits of heads of state have been held every two years since 2011.
What it means: The gas exporters are meeting against the backdrop of Europe's highest prices since 2022 and the war around the Strait of Hormuz. Moscow is using the forum to promote its proposals on the gas market.
Who benefits: Russia and Iran gain a platform for coordination and political support.
Background: Iranian President Masoud Pezeshkian will attend the summit in Moscow on 27 October; Russian President Vladimir Putin will hold more than 20 bilateral meetings on the sidelines of the GECF summit and the Russia–Africa summit on 28–29 October.
We have also reported that Pezeshkian will come to Moscow for the gas exporters' summit on 27 October.
