WANA (Dec 08) – Iran’s Oil Minister, Mohsen Paknejad, emphasized the country’s significant progress in natural gas production despite unilateral U.S. sanctions, achieving an annual output of 275 billion cubic meters.

 

Speaking at the opening ceremony of the 26th Ministerial Meeting of the Gas Exporting Countries Forum (GECF), he warned that regional tensions and territorial threats not only jeopardize stability but also pose serious risks to global energy security by disrupting supply chains.

 

GECF’s Role in Global Energy Security

Paknejad underlined the GECF’s critical role in fostering collaboration to address these challenges. He highlighted the forum’s commitment to evolving its influence in the global gas and energy markets, describing it as a “valuable shared asset” that aligns member nations in achieving common goals.

 

Welcoming new ministers from Bolivia, Egypt, Equatorial Guinea, Libya, Russia, Venezuela, Mauritania, Peru, and Senegal, Paknejad expressed gratitude to GECF Secretary General Mohamed Hamel and his team for organizing the event.

 

Regional Tensions and Energy Risks

The minister condemned the “unprecedented atrocities” of Israel against Gaza and Lebanon over the past year, citing recent escalations involving armed groups in Syria.

 

He called for vigilance, regional coordination, and a robust international response, noting that such conflicts threaten global energy supply reliability and accessibility.

 

Sustained Role of Oil and Gas in Future Energy

Paknejad criticized hasty transitions from fossil fuels, warning of heightened instability, inequality, and energy poverty. “Even the most optimistic energy scenarios project that at least half of global energy needs will be met by oil and gas until 2050,” he said, adding that efforts to eliminate fossil fuels are “unrealistic and endanger global energy security.”

 

Natural gas, with its economic and environmental advantages, is set to account for 26% of the global energy mix by 2050, according to GECF forecasts. Paknejad emphasized the need for large-scale investments and supportive policies to realize this potential.

 

Post-Sanction Achievements

Despite sanctions, Iran has completed numerous gas development projects, increasing domestic consumption of natural gas to over 70% of the national energy mix. Paknejad also reaffirmed Iran’s dedication to environmentally friendly practices and advancing technologies to optimize gas extraction and use.

 

The minister urged greater collaboration among GECF members to ensure global energy stability and foster sustainable development. “Iran, as a founding member of GECF, remains committed to shaping its strategies and strengthening its global role,” he concluded.