“If deemed successful OPEC actions+ on the oil market, consolidating the anti-crisis role in the gas sector could play a Forum of gas exporting countries (GECF)”, – said Deputy Minister of energy Anatoly Yanovsky at the conference “risk Management in the energy sector-2020”.
As explained “RG” the General Secretary of the GECF, Yuri Senturin, the possibility of creating mechanisms to ensure stability in the gas markets are subject to discussion at regular meetings of the Executive Committee and the Ministerial meeting of the GECF. The next meeting will be held in November this year under the chairmanship of Algeria.
Now the gas coalition brings together 20 countries – leading natural gas producers, who control 72 per cent of its proved reserves, 46 percent. production, 55 percent. pipeline exports and 61 percent. the supply of LNG. And it is quite comparable with the possibilities of the Organization of countries – exporters of oil (OPEC), which controls two-thirds of oil reserves, half of exports and about 35 percent of its production.
But the United States is no such broad powers, as in the OPEC, and now the market situation requires such action. The global gas market is being formed, the current composition of the GECF does not include many players (Norway, Australia, USA, Turkmenistan, Azerbaijan), therefore, to create an effective mechanism already, there is a need to format GECF+, said Deputy head of the national energy security Fund Alexei Grivach.
