GECF Summit: Oji calls for de-politicization of energy market

The 7th meeting of the Gas Exporting Countries Forum (GECF) Heads of State and Government commenced in Algiers, the capital of Algeria, on Saturday with Iran’s President Ebrahim Raisi and Oil Minister Javad Oji in attendance.
President Raisi arrived in Algiers on Saturday to take part in the meeting of the world’s leading natural gas producers and to strengthen Tehran’s cooperation with regional and international alliances.
Before the main event, an extraordinary Ministerial Meeting of the GECF summit was held on Friday, in which Oji delivered a speech.

Speaking in this meeting, the Iranian minister said development of the gas industry and materialization of supply and demand security in the world requires establishment of global peace and politicization of energy trade.
“Geopolitical tensions and the application of any unilateral or multilateral sanctions are in contradiction with the principles and standards of international law and jeopardize the energy security of societies,” he said.

“The regional developments in the last two years have shown that natural gas and its international trade are still considered a vital factor in the energy security of the human societies of the world, and despite the steps taken to achieve environmental goals and liberalization of energy markets, whenever global energy security is jeopardized, energy policymakers give priority to ensuring their country’s energy security over other goals,” he added.
The official further criticized the stance of the international community against world powers regarding politicization of the energy market, noting: “We have all witnessed that the European Union, which has always been the pioneer of energy liberalization policies and has emphasized the deregulation of the oil and gas markets in the past decades; when faced with a gas shortage crisis turned to non-market policies such as price ceilings, and prevented the full functioning of the market mechanism.”

He then underlined the rising demand for natural gas across the globe, saying: “According to the forecasts stipulated in the Outlook of the GECF, the demand for natural gas will increase by 36 percent by 2050, and by 2025, the share of natural gas in the world’s energy mix is expected to exceed that of coal, and by 2040 natural gas along with renewables may improve air quality is to become the main source of energy in the world. Replacing traditional fuels, and could provide a possible and cost-effective path for energy transition.”

“Development of the gas industry in the world and the realization of the security of supply and demand of natural gas in the global markets require world peace and de-politicization of energy trade. Based on this, geopolitical tensions and the application of any unilateral or multilateral sanctions are in contradiction with the principles and standards of international law and jeopardize the energy security of societies. It is worth mentioning that ordinary people especially those in developing countries are the victims of jeopardizing energy security,” he stressed.

Emphasizing the prominent role of the Islamic Republic of Iran in the world’s gas market, Oji said: “The Islamic Republic of Iran, as one of the world’s largest holders of proven natural gas reserves, and a top operator of natural gas distribution networks in the world, expresses its readiness for any cooperation in the fields of exploration, drilling, development, exploitation and distribution of natural gas.”

Iran’s Research Institute of Petroleum Industry wins GECF award

During the GECF summit, Iran’s Research Institute of Petroleum Industry (RIPI) was awarded for doing unique research into flare gas collection and putting the research into practice on the sidelines GECF Summit.
Azim Kalantari-Asl, the RIPI head, received the GECF Award for Long-Term Commitment to Natural Gas in 2024, during a ceremony attended by Oji.

Iran to host 26th GECF Ministerial Meeting in 2024

Also during the Extraordinary Ministerial Meeting of the 7th GECF Summit, a decision was made for Tehran to be host to the 26th GECF Ministerial Meeting in late 2024.
Iran will also host the 8th Gas Exporting Countries Forum Summit of Heads of State and Government in 2027.