Gas Exporting Countries’ Forum

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Gas Exporting Countries’ Forum

Post  kittu123 on Thu Oct 07, 2010 10:21 am

His Highness the Emir, Sheikh Hamad Bin Khalifa Al-Thani, today inaugurated the 3rd Ministerial Meeting of the Gas Exporting Countries’ Forum. The Forum, held at the Ritz Carlton Hotel was attended by energy ministers and senior officials in the gas sector from 15 countries, namely; Algeria, Brunei, Egypt, Indonesia, Iran, Libya, Malaysia, Nigeria, Norway (Observer), Oman, Russia, Trinidad & Tobago, UAE, Venezuela, in a addition to Qatar, the host country.

In his opening speech, H.H. the Emir of Qatar stressed the growing significance of natural gas to the world economy through its impact on the economic interests of both exporting and consuming countries. H.H. the Emir said the forum “is meant as a platform for consultation and cooperation among the producing countries to share views, expertise and information on the gas industry and export, and that the participating countries play an important role in this field as their combined gas reserves represent more than two thirds of the world’s total”.

H.H. the Emir warned against the negative impacts of “new governmental and regional procedures in consumer countries that interfere with the business terms and conditions of the contracts on gas purchase, regasification and distribution.” H.H. added that such procedures “threaten the legitimacy of long-term contracts and weaken classification of the borrowing capability of the buyers.”

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