is the intergovernmental forum of the world's leading gas producers that provides a framework for exchange of experience, views, information and data, as well as coordination in gas related developments among member countries.
22, will attend the upcoming GECF
meeting as a special guest.
At previous summits, most leaders of GECF
were calling for gas prices to be in parity with crude oil prices on heat equivalent units.
also said the present hydraulic fracturing (fracking) technology to extract shale gas would prove to be an "impediment" for future exploration because of environmental concerns but it would enhance global gas supply.
They and other GECF
member-states are using all means to maintain this demand which, they say, will not have a negative impact on the interests of consumers.
He noted that GECF
countries are in possession of huge resources of energy, particularly gas, and called for "global and targeted collaboration" to restore their nations' rights.
also addressed global environmental challenges and encouraged member countries to cooperate with industry stakeholders to achieve the objectives of the GECF
The summit brought together government leaders from GECF
members including Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Russia, Trinidad and Tobago and Venezuela, in addition to the Netherlands and Norway, which are observers.
also comprises Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, and Venezuela, while Kazakhstan, Norway and the Netherlands are observers.
According to the GECF
, the summit will discuss the priority of long-term contracts as the basis of security for exporters and consumers of natural gas.
Khelil told the meeting if the GECF
members agreed to cut supplies to the spot gas market, prices will begin to rise and eventually gas-importing states could be persuaded to accept parity with crude oil prices.
Russian officials heading the GECF
, whose 11 members control nearly three-quarters of the world's proven gas reserves, said the GECF
could become a price-influencing group like Opec.