WANA (Oct 23) – Iran’s Oil Minister Mohsen Paknejad announced that the Islamic Republic’s representative has been elected as Chair of the Executive Board of the Gas Exporting Countries Forum (GECF) during the organization’s 27th Ministerial Meeting, held on Thursday.

 

Speaking on the sidelines of the meeting, Paknejad highlighted two key developments — the election of Iran’s representative and a proposal to transform the GECF into a full-fledged Organization of Gas Exporting Countries, aimed at strengthening the forum’s influence in global energy policy and among major gas producers.

 

Growing Global Demand for Energy

The minister emphasized that the world today faces an unprecedented need for secure and reliable energy supplies, driven by population growth, urbanization, and rising development needs. Citing GECF projections, he said global gas demand is expected to increase by 32% by 2050, with the share of natural gas in the global energy mix rising from 23% to 26%.

 

He added that gas remains a cornerstone of global energy security, and GECF members — who collectively hold about 70% of the world’s natural gas reserves — should aim to expand supply to help gas reach a 30% share in the global energy mix by 2050.

 

Challenges from Anti-Fossil Fuel Policies

Paknejad warned that growing anti-fossil fuel narratives and policies, promoted in the name of combating climate change, could pose serious risks to the future of natural gas demand. He stressed that the GECF must act jointly to advocate for natural gas as a clean and reliable part of the global energy transition.

 

Referring to the 7th GECF Summit in Algiers (March 2024), he reiterated the commitment to promoting gas use as a means to achieve sustainable development, reduce energy poverty, and support a fair energy transition.

 

Investment Uncertainty and Sanctions

The minister also raised concerns over uncertainties in gas investment, noting that unilateral sanctions imposed on major energy-producing countries threaten market stability and delay investment.

 

“Despite intensified sanctions, Iran remains determined to boost natural gas production and energy efficiency,” he said, adding that Tehran is ready for joint cooperation and investment with all GECF member states.

 

Call for Institutional Strengthening

Paknejad proposed creating a structured dialogue mechanism between gas-producing and gas-consuming nations to enhance market stability and energy security. He suggested that the GECF’s structure be strengthened and elevated to an international organization level, aligning with members’ growing technical and policy needs.

 

He concluded by thanking GECF Secretariat staff and expressed special appreciation for Mohammed Hamel, the outgoing GECF Secretary-General, for his “dedicated leadership and valuable service.”

 

Paknejad affirmed Iran’s readiness to play an active and constructive role in advancing the shared goals of the Gas Exporting Countries Forum, emphasizing that unity, dialogue, and cooperation remain key to the forum’s future success.

Key Component Developed to Prevent Gas Outages in Iran. Social media/ WANA News Agency

Key Component Developed to Prevent Gas Outages in Iran. Social media/ WANA News Agency