The Gas Exporting Countries Forum (GECF) held a meeting with newly-appointed Algerian Minister of Energy Abdelmadjid Attar and the president of the GECF Ministerial Meeting on the forum’s development and other strategic matters.
Attar was appointed as the People’s Democratic Republic of Algeria’s Minister of Energy on June 23 and boasts a distinguished ministerial and industrial background, including as a former CEO of state-owned Sonatrach. Throughout 2020, Algeria is fulfilling the responsibility of the rotating presidency of the GECF Ministerial Meeting.
In his opening address, GECF secretary general Yury Sentyurin thanked Attar for inviting the secretariat to the meeting within the first month of assuming office, an act he termed as “another evidence of Algeria’s unwavering support and high priority given to the GECF.”
Sentyurin said, “Algeria is one of the founding member countries and a pillar of the GECF family. It’s a tall order to name the ways and means Algeria has contributed to the forum’s development.
“Now, we are looking forward to navigating the changes in market realities, and look beyond current moment under your able leadership as the GECF Ministerial Meeting president.”
He also said Attar’s prudent guidance “is what Algeria and all the natural gas producing community require in these testing times of economic downturn, volatility, and uncertainty.”
The president of the Ministerial Meeting received a detailed overview on the forum’s work, including its insights and findings, current membership expansion drive, regular and special events, and its deliverables in light of the decisions on statements adopted at the GECF Summits, Ministerial Meeting Resolutions, Executive Board Summary of Decisions, Long-Term Strategy, and the five-year working plan. Comprehensive discussions also took place on the action plan as regards to the implementation of the Gas Research Institute, which is set to be located in Algeria.
GECF head of Gas Market Analysis Department Mahdjouba Belaifa and head of Energy Economics and Forecasting Department Dmitry Sokolov presented an introduction to the Algerian delegation of short-term and long-term gas market reviews, respectively.
“The current pandemic has had a dramatic effect on lives, the economy, and energy markets. For gas, difficulties have accumulated since more than two years with over-investment in LNG facilities. The pandemic has exacerbated the crisis and the prices are now at a level that is no longer sustainable. I believe that the GECF should take this crisis as an opportunity to change and to become more useful for the interest of its members,” Attar said.
The Minister of Energy also provided the secretariat with instructions based on his vision of the future of the natural gas industry. Both parties discussed the preparatory work for the forthcoming 22nd Ministerial Meeting to be hosted by Algeria on November 12.
Meanwhile, Algeria will be the host of the 7th GECF Summit of Heads of State and Government in 2023, as announced at the 5th GECF Summit in Equatorial Guinea.
Participants of the GECF-hosted high-level talks held recently.
