TEHRAN, Nov. 24 (Shana) - Cooperation between gas producing and consuming countries is the most important message of the Gas Exporting Countries Forum (GECF) in Tehran.

The Secretary General of the International Energy Forum (IEF) Aldo Flores-Quiroga made the remarks on Monday when GECF held its third summit meeting.

Addressing the delegates, IEF secretary general said setting up a gas data bank has led to growing stability in the gas market and formation of a balanced market based on supply and demand.

GECF is the intergovernmental forum of the world’s leading gas producers that provides a framework for exchange of experience, views, information and data, as well as coordination in gas related developments among member countries.

It consists of 19 main and observer members with its permanent secretariat based in Doha, Qatar.

Russia, Iran, Qatar, Algeria, Bolivia, Egypt, Equatorial Guinea, Libya, Nigeria, Trinidad and Tobago, Venezuela, and the United Arab Emirates, are main members of the gas exporting body. Observer countries are the Netherlands, Iraq, Oman, Azerbaijan, Peru, Kazakhstan and Norway.

GECF members account for 42 percent of global gas output, 70 percent of global gas reserves, 40 percent of pipe gas transmission, and 65 percent of global trade of Liquefied Natural Gas (LNG).

By SHANA