Qassemi: World Gas Market Needs Stability

Moscow, June 30, IRNA – Iran's Minister of Oil Rostam Qassemi says that the world gas market needs stability. Addressing the Gas Exporting Countries Forum (GECF) in Moscow on Saturday, Qassemi said the GECF does not confront consumers, rather its moves on their side to materialize a win-win game in line with mutual interests. He said, ˈWe hope the Forum would be able to leave behind its development process soon and play its role in the international gas market as an influential entity.ˈ Highlighting the economic and environmental advantages of gas compared to other energy sources, Qassemi said, ˈRegarding its overall advantages, gas consumption is on the rise speedily compared to other energy carriers and reserves an increasingly important position in the world energy basket day by day.ˈ He said unity of the gas exporting countries with an aim of defending their collective interests is of grave importance. He criticized certain gas consumers for their improper political behavior and said this would endanger the demand security. ˈA market facing price fluctuations or unfair prices would not benefit any of the producers or consumers.ˈ Concluding his speech, Qassemi officially invited the GECF members to attend the 15th GECF ministerial meeting, due to be held in Tehran in November 2013. Per article 10 of the GECF charter, Qassemi conferred presidency of the GECF extraordinary ministerial meeting to Russian Energy Minister Alexander Novak. The Gas Exporting Countries Forum is an organization set up to coordinate actions of the world’s leading natural gas producers. The Forum was established in Moscow on December 23, 2008. October 1, 2009 is regarded as the day of the organization’s foundation. It was the day the intergovernmental agreement went into force after being ratified by the five countries that signed the document. The Forum is now made up of Algeria, Bolivia, Venezuela, Egypt, Iran, Qatar, Libya, Nigeria, Russia, Trinidad and Tobago, and Equatorial Guinea. Observer countries are Kazakhstan, Netherlands and Norway. The first GECF summit was held in Doha, Qatar, the venue of the organization’s headquarters, on November 15, 2011. The declaration of the heads of state and government was adopted. It says effort should continue for steady supply of natural gas on the world market and ensuring fair prices of natural gas and oil, taking into account the prices’ indexation. The declaration, on the participants’ proposal, contains the provision that countries over whose territories energy sources go by transit are responsible for creating stable and good conditions for transit./end