The Iranian Oil Minister stated that the country intends to increase gas trade with member states of the Gas Exporting Countries Forum (GECF), create a unified gas market, and strengthen energy cooperation ahead of the eighth group summit in Russia.
Iran seeks to expand gas trade with GECF members
Hamid Bavard reported that Iran will hold bilateral talks with the oil and energy ministers of member countries during the summit to discuss expanding cooperation and bilateral activities. According to Shana, Iran, as the founder of GECF, will present its position at the leaders' summit through President Masoud Pezeshkian, and at the group's ministerial meeting through the current oil minister.
Key issues on the agenda include protecting energy infrastructure during crises and wars, increasing gas trade among exporting countries, and finding ways to activate exchanges. Bavard added that Iran will insist on creating a common gas market and closer coordination among exporters to develop joint gas export policies.
Regarding relations with Russia, Bavard noted that cooperation has been established between the two countries in the energy sector, with Russian companies holding contracts for the development of several Iranian oil and gas fields. Negotiations are also underway regarding gas exchanges between Iran and Russia. Bavard expressed hope for positive results during the trip to promote strengthening cooperation and expanding energy interaction between Iran and Russia.
Bavard arrived in Moscow on Sunday to accompany Pezeshkian to the eighth GECF summit and participate in the forum's 28th ministerial meeting. The ministerial meeting is scheduled for Monday, one day before the leaders' summit. An extraordinary meeting of the GECF Executive Council, chaired by Seyed Ali-Mohammad Mousavi, Deputy Iranian Oil Minister for International Affairs and Trade, as well as a meeting of the Special High Committee, are also scheduled for Sunday.
These meetings are expected to allow for the review and approval of important documents, including the summit's final declaration. GECF serves as a basis for dialogue and coordination among natural gas producing and exporting countries. Its sessions cover the development of gas markets, supply and demand forecasts, energy security, and the role of natural gas in the global energy balance.
Other areas of focus include the development of natural gas markets, monitoring trends in the liquefied natural gas (LNG) industry, and assessing investment needs to meet future demand. The forum's leaders' summit is held every two years. Previous summits took place in Doha in 2011, Moscow in 2013, Tehran in 2015, Santa Cruz de la Sierra in Bolivia in 2017, Malabo in Equatorial Guinea in 2019, Doha in 2022, and Algiers in 2024.
GECF includes 12 full members: Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, United Arab Emirates, and Venezuela. Angola, Azerbaijan, Iraq, Malaysia, Mauritania, Mozambique, Peru, and Senegal participate as observer countries. According to the forum, members collectively possess about 70 percent of the world's proven natural gas reserves, account for 38 percent of global realized gas production, and 42 percent of global gas exports. Their share in global LNG exports is estimated at approximately 47 percent.