- Leaders from all GECF member states will meet in Malabo on November 25-30, 2019.
- Non-GECF member states from Africa feature largely in this year’s program as natural gas becomes greater investment priority.
Malabo, EQUATORIAL GUINEA – Heads of state and energy ministers from Nigeria, Egypt, the United Arab Emirates, Venezuela, Angola and several other countries are headlining a powerful speaker lineup for the 5th Summit of the Gas Exporting Countries Forum (GECF). The biannual event, which is being held in Malabo, Equatorial Guinea on November 25-30, will gather all GECF member states and gas investment leaders to increase cooperation among leading gas producers.
On November 27, GECF will host its 2nd International Gas Seminar under the theme ‘Gas: Challenging the Status Quo, Creating a Sustainable Future.’ The one-day seminar will showcase dedicated sessions and presentations led by public and private sector gas sector leaders from across the globe. Among them are H.E. Mohammed Sanusi Barkindo, OPEC Secretary-General, Luis Beltran, Secretary-General of the International Gas Union, Mallam Mele Kolo Kyari, the Group Managing Director of the Nigerian National Petroleum Corporation, Rachid Hachichi, the CEO of Sonatrach and others.
Equatorial Guinea is the first African country to host the Gas Summit as natural gas becomes a greater priority in the investment agenda of many African countries. African countries are leveraging their memberships to GECF to advance their gas agendas. Angola, which joined as an Observing Member last November, has bolstered its gas sector with the passing of legislation promoting the monetization of the country’s gas reserves, including a natural gas law passed in May 2018 to regulate the natural gas exploration, production, monetization, and commercialization. Government delegations from non-member GECF states including Senegal, the Republic of Congo and Mozambique will participate in this year’s summit, all of them emerging gas players with significant reserves and bright LNG futures.
Africa’s gas industry has the potential to increase exponentially, which is mainly driven by an uptick in investor appetite. The African LNG market is expected to contribute 10.4% of global production growth by 2050.
The GECF Gas Summit is the final event in the Equatorial Guinea Year of Energy, an official government initiative positioning the West African country as the continent’s energy hub for 2019. One of only four African countries exporting LNG, Equatorial Guinea is developing a number of interlinked onshore and offshore gas facilities as part of a project known as the Gas Mega Hub.
About the GECF
Since its official establishment in 2008, the Forum has recorded notable milestones and transformed into a credible full-fledged international organization and energy coalition that plays a crucial role in the stability of natural gas markets globally. For the time being 19 Member Countries – Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, United Arab Emirates, Venezuela, Angola, Azerbaijan, Iraq, Kazakhstan, Norway, Oman, Peru – jointly control 70% of the proven gas reserves, 45% of its production, 64% of pipeline and 54% of LNG exports across the globe.
The GECF is committed to supporting its Member Countries’ sovereign rights over their resources and their ability to develop, preserve and use the resources for the benefit of their people through the exchange of experience, views, information and coordination on gas-related matters. Based on the variety of instruments and deliverables – Gas Research Institute, the most comprehensive and granular Global Gas Model with application of artificial intelligence and machine learning tools, Special Envoys on Data and Statistics, Data Exchange Mechanism, Global Gas Outlook and it’s digital version, the Short-Term Gas Market Reports, the monthly, quarterly and annual Statistical Bulletins– the Forum provides scientifically-based insight into the stage of natural gas and its place in the world energy mix.
To solidify the position of the GECF as a globally recognized intergovernmental organization, the Secretariat continues engaging with UN agencies, G20, ASEAN, Eurasian Economic Commission, OLADE, OPEC, IEF, IEA, IRENA. Meanwhile, the Forum actively participates in the prestigious multilateral global dialogue of IEA-IEF-OPEC joint program on energy outlooks, the UNECE Group of Experts on Gas, the Natural Gas Research Program of the Oxford Institute for Energy Studies, JODI-Gas, Data Exchange Mechanism as a partner organization.
The GECF Gas Summits, traditionally held on the highest political level of Heads of State and Government in one of its Member Countries, reveals that the Forum is gaining importance. The upcoming 5th edition of the Summit is approaching to be held on November 29 this year in Malabo, Equatorial Guinea – for the first time in the African region.
This article first appeared on the Year of Energy website