Muscat: The Ministers of the Gas Exporting ACountries Forum (GECF) met in Malabo, Republic of Equatorial Guinea, on November 21, 2012, hosted by Gabriel M. Obiang Lima, Minister of Mines, Industry and Energy of Equatorial Guinea, to exchange views on current developments in global natural gas market and the progress of the affairs of the forum.
The meeting was attended by Ministers and Heads of delegation from 12 Member countries, namely, Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Oman, Qatar, Russia, Trinidad and Tobago and Venezuela, as well as Observer Member from the Netherlands.
The Secretary-General of the GECF, Leonid Bokhanovskiy, and Ilya Galkin, Chairman of the Executive Board, also attended the meeting
The ministers highlighted the importance of natural gas as a green fuel, an abundant resource and a safe, clean, reliable and efficient energy carrier.
The ministers acknowledged the member countries' efforts to promote stable supply of natural gas to ensure the security of sustainable demand and necessary conditions for infrastructural development and highlighted the importance of adopting non-discriminatory and predictable legal framework, energy, trade, fiscal and environmental policies to enhance development in the gas sector.
The ministers discussed the changing nature of gas market dynamics and the advent of new producers and consumers, technologies as well as unconventional and renewable energy sources constantly changing the energy landscape.
They reiterated the member countries' support of international efforts aimed at addressing global environmental challenges and also encouraged co-operation, co-ordination and exchange of views among Member countries and with all industry stakeholders to achieve the objectives of the Gas Exporting Countries Forum.