The work of the 7th summit of heads of state and government of the Gas Exporting Countries Forum (GECF) begins on February 29, 2024, in Algiers, the Algerian capital. “Holding the summit in Algiers is a significant strategic event in the field of energy, in the sense that Algeria will work to strengthen the partnership between countries, to reduce greenhouse gas emissions, and therefore promoting the place and the role it will have to play within the framework of sustainable solutions for future energy,” explains Mohamed Arkab, the Algerian Minister of Energy and Mines.
In the context of increasing pressure to accelerate dialogue around the objectives of reducing greenhouse gas emissions and stopping the use of fossil fuels, the GECF positions natural gas as the key to the transition to sustainable energy.
Today, the use of natural gas is growing more rapidly in other areas, such as power plants and industry, “because of its energy efficiency and environmental qualities.” According to NJ Ayuk, the Executive Chairman of the African Energy Chamber (AEC), natural gas is the key to a prosperous future and a just energy transition for Africa.
Taking the example of Tanzania, the president of the AEC indicates that from the wells and a gas processing plant located on the island of Songo Songo, which today generates around 45% of Tanzania’s electricity, the East African country, created more than 114,000 jobs, significantly reduced its carbon emissions (at the Tanzania Portland Cement Company alone, CO 2 emissions were reduced by around 80,000 tonnes per year). Songo’s gas production also provides a cleaner source of energy for Dar es Salaam’s power plants by replacing diesel and heavy fuel oil (HFO).
More than 69% of global gas reserves
Launched in 2001, the GECF summit, now in its seventh edition, will also inaugurate the headquarters of the Gas Research Institute (GRI), hosted and directed by Algeria. This 7th summit will see the signing of several memorandums of understanding between the GECF and important international and regional organizations.
Full members of the GECF are Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, United Arab Emirates and Venezuela. As for Angola, Azerbaijan, Iraq, Malaysia, Mauritania, Mozambique, and Peru, they have observer status. The latter represents 69% of global gas reserves, 39% of marketed production, and 40% of global gas exports. Additionally, GECF member countries collectively account for more than half (51%) of global liquefied natural gas (LNG) exports.
