Sat 15 Jun 2024 | 14 June 2024

Gas industry development requires depoliticizing energy trade

Irans Oil Minister Javad Owji said international peace and de-politicization of the energy trade are key factors in the development of the gas industry and materialization of the security of supply and demand of the natural gas in the global market.

Speaking at the Extraordinary Ministerial Meeting of the 7th Summit of Heads of State and Government of the Gas Exporting Countries Forum (GECF) held in Algiers, Javad Owji added "According to the forecasts stipulated in the Outlook of the GECF, the natural gas trade will increase by 36% 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," Iran"s SHANA news agency reported.

He emphasized that promoting of the status of the forum at the world"s gas market and playing a more effective role is an inevitable necessity for the growth and development of the developing countries.

"Accordingly" he said, "I suggest that cooperation of member states of the forum should be improved at the strategic, managerial and technical levels."

The oil minister added, the Islamic Republic of Iran, as one of the world"s largest holders of proven natural gas reserves, and operators of the domestic 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. The realization of this issue requires the promotion of strategic management and technical-engineering capabilities, which will play a prominent role in encouraging international joint ventures. This strategy is a collective strategy and through it, the technological power of the member countries of the Forum will be strengthened in the development chain of the natural gas industry.

Iran"s oil minister invited member states to take part at the 26th Ministerial Meeting of the Gas Exporting Countries Forum, which is slated to be held in Iran late in 2024.

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