XXI Ministerial Meeting of gas exporting countries ratifies cooperation between their member states

The XXI Ministerial Meeting of the Gas Exporting Countries Forum (GECF), held in Moscow this Thursday, October 3, under the presidency of the Venezuelan People’s Power Minister for Petroleum, Manuel Quevedo, concluded with the ratification of the principles of sustainable development and cooperation between its member states. In this regard, GECF member countries underlined their commitment to the principles of sustainable development, cooperation and development in research, technology, information exchange, knowledge transfer and the exchange of best practices. This important meeting was attended by official delegations headed by ministers and senior officials from Algeria, Bolivia, Egypt, United Arab Emirates, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, Venezuela, Azerbaijan, Kazakhstan and Oman. Minister Quevedo, in his capacity as president of the XXI Ministerial Meeting, accompanied by the Minister of Energy of the Russian nation; Alexander Novak, and the general secretary of the GECF, Yury Sentyurin, reaffirmed the leadership position that natural gas currently occupies in many countries, as well as its significant potential. During the ministerial meeting, the importance of natural gas to ensure energy security and market stability in terms of balancing supply and demand was also emphasized. The delegations expressed their deep concern and rejection to the extraterritorial application of laws and regulations that translate into unilateral economic sanctions in the gas sector, and in particular to GECF member countries. Similarly, the ministers reaffirmed their determination to keep promoting natural gas as an attractive combination of environmental sustainability and economic viability, by presenting them as an affordable, reliable and clean energy source. The preparations for the celebration of the V Summit of the Gas Exporting Countries Forum that will take place next November in the Republic of Equatorial Guinea, remained as one of the main topics of debate. In addition, it was decided that the twenty-second ministerial meeting of the agency will be held in November 2020 in Algeria. Venezuela once again demonstrates how thanks to global recognition it occupies a leading position in the energy field, leading the voice of the development and growth of the hydrocarbons market for the benefit of the peoples.