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JUL-01, 2013
GECF Summit in Moscow
Today in Moscow
  • Present Producers represent 60% of world reserves
  • There are present 13 member nations of the World Forum of Gas Exporting Countries and 4 observers
  • Todey the OPEC of gas could be created

Oil America, Inc.

The major gas exporting countries, including Russia, Bolivia, Venezuela, Iran and Qatar, started a meeting in Moscow today, Monday July 1, seeking to defend their interests against a market full of changes, to protect prices and to conserve the resource, being this a continuation of the first gas summit held in Doha, capital of Qatar, on November 15, 2011.

GECF Summit of Gas Exporting Countries at the Gran Palace of Kremlin GECF World Wide Distribution of Natural Gas Global LNG trade grows fast

A the meeting are attending 13 countries members of the Gas Exporting Countries Forum (GECF) and four boserving countries, who represent over 60% of world reserves of natural gas and a higher percentage of exports. There are participating with observer status Norway, Iraq, the Netherlands and Kazakhstan.

The importance of the summit is highlighted by three presidents of member countries attending the GECF, Mahmoud Ahmadinejad from Iran, Venezuela's Nicolas Maduro and Bolivia's Evo Morales. There is also the Prime Minister Nuri al-Malik and all energy ministers of the gathered nations.

Today, during the morning, there was proposed the creation of a similar body like OPEC, that brings together exporting countries, the creation of a research institute of gas and a gas bank. A joint statement is expected at the end of the day today.

GECF World Wide Distribution of Natural Gas