Global gas market politicized: Iran oil minister

Iranian Oil Minister Rostam Qasemi has criticized certain gas consumer countries for politicizing the global gas trade, saying the Islamic Republic supports fair gas prices.

“In certain cases, the political behavior of some consumer countries leads to the politicization of economic and commercial environment [of the market], in which none of the parties will feel safe, and energy security will be seriously hurt,” Qasemi said on Saturday.

He made the remarks in an address to the ministerial meeting of the Gas Exporting Countries Forum (GECF) in the Russian capital, Moscow.

“Iran’s policy is to defend fair and reasonable gas prices in the global market,” the Iranian minister added.

He noted that gas producers are standing by the consumer countries, moving in line with mutual interests “within a win-win framework.”

Qasemi further stated that both gas producers and consumers will benefit from a stable market with sufficient supply.

The Iranian minister also expressed hope that the GECF would become an influential player in the global gas market.

The ministerial meeting was held prior to the 2nd summit of the GECF. The summit, which is scheduled to be held in Moscow on July 1-2, will be attended by Iranian President Mahmoud Ahmadinejad.

The Gas Exporting Countries Forum is an intergovernmental organization comprising 11 of the world’s leading natural gas producers, including Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago and Venezuela.

The GECF was founded in 2001 in the Iranian capital, Tehran, and its members control over 70 percent of the world’s natural gas reserves, 38 percent of the pipeline trade, and 85 percent of the liquefied natural gas (LNG) production.

The three largest reserve-holders in the GECF – Russia, Iran and Qatar – together hold about 57 percent of global gas reserves.

By Press TV


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