Context: Algeria recently asked the Gas Exporting Countries Forum (GECF) member states to strengthen dialogue and cooperation for Gas resource stability at the 7th GECF Summit.

About Gas Exporting Countries Forum (GECF)

• It is an intergovernmental organization that provides a framework for exchanging experience and information among its member countries.

• This gathering of the world's leading natural gas-exporting countries seeks to build a mechanism for a meaningful dialogue between gas producers and consumers.

• GECF was formed in 2001 and is headquartered in Doha, Qatar.

• It includes 19 members including Algeria, Bolivia, Egypt, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, UAE, Venezuela, among others.

• The Forum enjoys a dominant position in global energy markets, representing 69% of the world’s gas reserves, 39% of the marketed production, and 40% of global gas exports.

• GECF member countries collectively account for more than half of the world's LNG (Liquified Natural Gas) exports (51%).

Key Highlights of the 7th GECF Summit

• It was convened in the historic city of Algiers, Algeria where leaders approved the Algiers Declaration in the spirit of solidarity and cooperation.

• The Theme of the Summit was “ Natural Gas for a Secure and Sustainable Future".

• This theme reflects the growing importance of natural gas as an affordable, reliable, and sustainable energy resource for advancing socio-economic development.

• It serves as a response to the energy trilemma of energy security, affordability, and sustainability.

• Members discussed the development of the gas industry, investment, cooperation, and decarbonization to introduce new and renewable energy sources into the market.

• They focused on the need to reduce carbon footprint while improving production.

• Decarbonization emerged as a necessary step in the value chain of the future gas industry.

• The declaration that will serve as a guideline for gas-producing countries to stay focused on their common objectives in a constantly changing market.

• MoUs were signed to enhance energy cooperation with African Energy Commission (AFREC), and Economic Research Institute for ASEAN and East Asia (ERIA).

• Senegal became an observer member of the GECF, while it approved Mauritia’s official permanent membership in the Forum.