Future of global gas markets is extremely bright: GECF secretary

TEHRAN Oct. 19 (Shana) – Secretary General of the Gas Exporting Countries Forum (GECF) Mohammad-Hossein Adeli said there are “extremely bright” prospects in the evolving dynamics of the global gas markets for producers.

“The Golden Age of Gas will only be 24-carat gold if we argue the case for gas vigorously and we fight to ensure that our fuel’s superiority over many of the alternatives is widely acknowledged,” he told the opening of the Iranian Petroleum and Energy Club 2015 Congress and Exhibition (IPEC 2015) which opened here on Monday.

“We can provide the abundant supply and the flexibility that can help emerging economies in particular grow and increase their people’s access to energy and electricity, and play a central role in combating climate change,” he added.

The three-day conference which is started one day after formal end to anti-Iran sanctions is going to discuss the theme Post-Sanctions Iran: An Open Door to Oil and Gas Investment Opportunities.

“We can now begin to think about just how significant Iran’s contribution can be to the future of global gas,” he said.

The GECF secretary general also cautiously warned about too much credence in optimistic forecasts about future energy trends. “But given population and energy demand growth projections, it is hard to see that there will be anything other than significant gas-growth between now and 2040.”
He also said that if world leaders are serious about combating climate change, they should give the natural gas a serious role to play.

“However enthusiastic people might be about renewable, we need to remember that their contribution is not only intermittent; they are also largely fuel-sources that produce electricity.”

In addition to Adeli, chief executives and policy makers in the field of energy as well as delegates from OPEC and IEA are taking part in the conference. Invited speakers include representatives from OPEC, GECF, IEF, Total, Eni, Ansaldo, World Petroleum Council, OMV, Mistsui, Siemens, Mitsubishi Hitachi Power System, Linde and Mitsui.

The GECF is a forum of the world’s leading gas producers which was set up as an inter-governmental organization with the objective of increasing the level of coordination and strengthening the collaboration among member states.

Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, United Arab Emirates and Venezuela are the full members. Iraq, Kazakhstan, the Netherlands, Norway, Oman and Peru have the observer member status.

The 3rd GECF Summit is scheduled to be held in Tehran on November 23.