DOHA: The 16th Ministerial Meeting of the Gas Exporting Countries Forum (GECF) held here yesterday discussed the challenges facing global gas industry. The meeting decided the GECF Secretariat will continue the evaluation of developments occurring in the energy market with a focus on the supply and demand.
The meeting was chaired by the Minister of Energy and Industry, H E Dr Mohamed bin Saleh Al Sada, and Head of Delegation of Nigeria, as Alternate President.
The meeting was attended by ministers from Algeria, Iran, Libya, Russia and UAE and heads of delegations from Bolivia, Equatorial Guinea, Egypt, Nigeria, Peru, Trinidad and Tobago and Venezuela as well as Netherlands, Norway and Oman as observers.
The meeting discussed the global gas market report presented by the GECF secretary general, which covered the latest developments in the energy market in general and in the gas market in particular, including short-term trend of supply and demand for natural gas worldwide and in specific regions and countries. The evolution of LNG trade across the regions, development of the gas prices were among other issues discussed. The ministers and industry leaders assessed the complexity and dynamics of the global natural gas market in the short, medium and long term.
Ministers decided to start the preparations for the Third Gas Summit in Tehran in 2015. They acknowledged and commended the recent activities and initiatives by the Secretariat including the global gas model. They also approved Peru as the new observer member of GECF. The Peninsula
