GECF was established under exceptional circumstances: Attiyah
HE Abdullah bin Hamad Al Attiyah, former Deputy Prime Minister and Minister of Energy and Industry and Chairman of Abdullah bin Hamad Al Attiyah International Foundation for Energy and Sustainable Development, said that the establishment of the Gas Exporting Countries Forum (GECF) took place under exceptional circumstances experienced by the global energy industry.
In an interview with Qatar News Agency (QNA) on the occasion of the 7th GECF Summit in Algeria from February 29 to March 2, His Excellency said that the idea to establish the Forum emerged in response to the challenges faced by this vital sector after the global demand for natural gas increased since it is an important, clean source for industrial production and electricity generation.
He added that the Forum was established in 2001 by a group of major gas-producing countries, including Qatar, Algeria, and Russia, as an organization to coordinate and develop the gas industry, enhance cooperation among producing countries and achieve balance in global energy markets through exploring the best ways to ensure the sustainability of global gas supplies, taking into account the significant challenges faced by energy markets during that period.
He point- ed out that since its establishment, the Forum aimed to coordinate among gas-exporting countries to achieve optimal sustain- ability in the production and utilization of this important energy source amid price fluctuations and market pressures through the exchange of experiences, opinions, information, and coordination among gasexporting countries in regards to global trends in gas exploration, production, and transportation through both pipeline networks and liquefied natural gas carriers. The goal is to gain a better understanding of the challenges, opportunities, and the current and expected balance between supply and demand.
He emphasized the necessity of enhancing and developing effective channels for dialogue between gas producers and consumers through international and regional energy organizations and forums to ensure stability and reduce undesirable fluctuations in gas markets. Hence, the establishment of the Gas Exporting Countries Forum responded to a set of challenges and opportunities in the global energy field, he explained.
On a question about his vision for the future of the gas industry, His Excellency said that natural gas faces numerous challenges as a fossil fuel source, given the growing awareness of climate change impacts and increasing demands to reduce reliance on fossil energy sources contributing to global warming and shift toward renewable energy sources as a more sustainable alternative.
Al Attiyah added that many countries are taking measures to reduce reliance on fossil energy, including imposing carbon taxes and supporting renewable energy projects. However, renewable energy sources, such as solar and wind energy, also face challenges such as high infrastructure costs, developing efficient energy storage technologies, and the intermittent nature of production, which is not always available when needed, he said, pointing out that natural gas currently holds a prestigious position among energy sources, surpassing previous perceptions that considered it a “bridge” between the era of total reliance on fossil fuels and the era of renewable energy.
Additionally, gas has high flexibility in usage, easily entering various applications, including electricity generation and heating, he explained, adding that gas demonstrates high efficiency in power generation compared to some other sources and is usually a cost-effective alternative, making it an attractive economic option for many industries. Advanced hydrogen production technologies also play a crucial role in enhancing the position of natural gas in the transition toward a more sustainable energy system.
HE Abdullah bin Hamad Al Attiyah, former Deputy Prime Minister and Minister of Energy and Industry and Chairman of Abdullah bin Hamad Al Attiyah International Foundation for Energy and Sustainable Development, highlighted natural gas’ significant role in the short and medium term global energy field. In the long term, it may be influenced by technological, political, and environmental developments, especially in areas such as emissions legislation and taxes, while the focus on developing renewable energy sources, improving storage and distribution could lead to a reduced reliance on natural gas in some cases in the future, he added.
He also pointed out that natural gas will continue providing a large portion of the global energy in the long term, with countries possessing significant gas reserves playing a crucial role in supplying energy to the world. The future of natural gas will depend on the ability of countries to develop new technologies to reduce carbon emissions.
He said the Summit confirms the central role of member states in the global energy system, as they possess the largest share of natural gas resources and production. It also highlights the ability of members to meet the global need for modern, reliable and sustainable energy, especially given the growing share of natural gas in the global energy field due to its positive environmental contributions in mitigating climate change.
Attiyah said the GECF was established in 2001 by a group of major gas-producing countries, including Qatar, Algeria, and Russia, as an organization to coordinate and develop the gas industry.