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JUL-02, 2013
GECF Summit in Moscú, Putin and Maduro
Presidents PUTIN and MADURO
  • A transparent pricing strategy and a policy of protecting this ecological energy resource must be developed

Oil America, Inc.

The presidents of Russia, Vladimir Putin and Venezuela Nicolas Maduro called to strengthen relations and cooperation between the nations of the Forum of Gas Exporting Countries (GECF), in order to protect the interests of their people and to defend their natural resources, during the Second Summit of Heads of Government of the Forum of Gas Exporting Countries which began yesterday, Monday, and runs till today in the Russian capital, in the Kremlin.

The Forum of Gas Exporting Countries is an organization that integrates leading gas producers in the world. It comprises Algeria, Bolivia, Brunei, Egypt, Equatorial Guinea, Indonesia, Iran, Libya, Malaysia, Nigeria, Oman, Qatar, Russia, Trinidad and Tobago, United Arab Emirates and Venezuela.

"I am convinced of the need to maintain a closer relationship and to show more efforts to protect the interests of our countries that we are exporting this ecological type of energy," said the head of the Russian state. The Russian president said it is important "to develop a political strategy of gas prices, to avoid the volatility of those prices, make them more transparent and thus improve relationship, as demand and overall gas consumption being higher compared to oil."

The president of Venezuela, Nicolas Maduro, said for his part that the GECF "is one of the dreams of the Commander (Hugo) Chavez, to build an organization capable of shaping up in defense of gas and the countries that possess it, to defend the marketing and exploitation of this renewable and exhaustible natural resource that must be cared for being a clean source of energy to the people."

The Energy Agency recently predicted that gas consumption will increase gradually and by 2018 demand will increase by 16 percent to reach four trillion cubic meters. Therefore, the gas producers should be organized, as it did OPEC, to provide leadership and price stability and ensure protection of the resource and the global ecology.