Paknejad, Iran’s oil minister, told that The 26th Ministerial Meeting of the Gas Exporting Countries Forum (GECF) emphasized the importance of international cooperation in the natural gas industry and its role in global energy security.
He also added that the meeting provided a platform for exchanging experiences and innovative ideas among member and observer countries while underscoring the vital role of natural gas in reducing environmental impacts.
“Global energy security is achieved through ensuring easy access to reliable energy resources such as natural gas, investing in the gas industry, as well as improving energy transmission infrastructure,” Paknejad said.
Paknejad added that according to reputable international reports, significant investment will be required globally in the coming years to develop gas infrastructure and advanced technologies in this industry. These investments include constructing new pipelines, storage facilities, LNG transportation infrastructure, and developing low-carbon technologies. Insufficient investment could lead to supply shortages, rising prices, and a decline in global energy security.
He said that the GECF presents natural gas as a clean and environmentally friendly fuel that can serve as an ideal alternative to polluting resources like coal. By organizing specialized meetings and publishing scientific reports, the forum raises global awareness about the benefits of natural gas. It also focuses on technologies such as carbon capture, utilization, and storage (CCUS) as solutions to mitigate environmental impacts.
“Iran, with the world’s second-largest natural gas reserves and a strategic geographic location, plays a crucial role in the GECF and the global gas market. The country has become one of the leading natural gas producers globally by developing projects such as the South Pars gas field. Furthermore, Iran plays a key role in global energy security through the development of gas transmission and export infrastructure,” Paknejad added.