The 4th Gas Exporting Countries Forum Summit is scheduled to be held in Bolivia in central South America on November 20 with the participation of GECF members, the world’s leading natural gas producers, namely Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, Venezuela and the UAE, Financial Tribune reported.
The summit will be an opportunity for the members to exchange views and discuss energy concerns, especially natural gas marketing as well as the latest developments in the production of liquefied gases, namely LNG and LPG, according to IRNA.
GECF is an intergovernmental organization of 12 of the world’s leading natural gas producers. It is established in Tehran in 2001.
In this aspect, the Third GECF Summit was hosted by Tehran in November 2015, bringing together the heads of state and governments from nine countries, including Russia, Bolivia, Iraq, Turkmenistan, Equatorial Guinea, Nigeria and Venezuela.
It is worth mentioning that GECF members together control over 70% of the world’s natural gas reserves, 38% of pipeline trade and 85% of LNG production. The three largest reserve-holders in the GECF—Russia, Iran and Qatar—together hold about 57% of global gas reserves.