Moscow hosts 28th Ministerial Meeting of Gas Exporting Countries Forum

The 28th Ministerial Meeting of the Gas Exporting Countries Forum (GECF) opened in Moscow on Monday, bringing together 12 member countries and eight observer nations. One of the key themes was the right of all countries to freely access natural gas.

Speaking at the meeting, Russian Energy Minister Sergey Tsivilev said the crisis in the Strait of Hormuz had affected around 20 percent of global liquefied natural gas (LNG) supplies. According to him, illegal unilateral restrictions imposed on GECF member states, including Russia, Iran and Venezuela, had intensified market volatility and driven up consumer prices.

The meeting adopted the draft Moscow Declaration, which sets out three core principles: energy equity, technological neutrality and equal access to energy resources. The document is expected to be formally approved on Tuesday at the 8th GECF Summit of Heads of State and Government, chaired by Russian President Vladimir Putin.

Founded in 2001, the GECF comprises 12 member countries, including Russia, Iran, Qatar and the United Arab Emirates. Eight additional countries hold observer status, among them Angola, Azerbaijan and Malaysia.

GECF members and observer nations together account for around 70 percent of global natural gas reserves, nearly 40 percent of pipeline gas exports and approximately 50 percent of global LNG exports.

Since 2011, the forum has held summits of heads of state and government every two years.