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Share of gas in global energy balance will increase by 2050 — GECF Secretary General

Mohamed Hamel also informed that Mauritania has become a new member of the forum, and Senegal has applied to join the Gas Exporting Countries Forum

RABAT, March 1. /TASS/. The share of gas in the global energy balance will increase by 2050 from 23 to 26%, Secretary General of the Gas Exporting Countries Forum (GECF) Mohamed Hamel said, speaking at an extraordinary ministerial meeting of the forum. It was held ahead of the 7th GECF summit, which will take place on March 2 in the capital of Algeria.

"The share of gas in the global energy balance will increase from 23 to 26% by 2050," Hamel said. His speech was broadcast on the Algerian radio.

The Secretary General said that on February 29, the official opening of the headquarters of the GECF Research Institute took place in the capital of Algeria. Hamel also informed that Mauritania has become a new member of the forum, and Senegal has applied to join the GECF.

GECF is an intergovernmental organization uniting the world's leading gas exporters. Currently, there are 13 members-states, which are: Algeria, Bolivia, Venezuela, Egypt, Iran, Qatar, Libya, Mauritania, Nigeria, United Arab Emirates, Russia, Trinidad and Tobago, Equatorial Guinea. These countries control about 70% of the world's gas reserves, 51% of the world's LNG exports and 52% of the world's pipeline supplies.

The main goals of the organization are to ensure the sovereign rights of member countries to their own natural gas reserves and the ability to independently plan and ensure environmentally sustainable, careful and efficient development and use of gas, exchange of experience, opinions and information on key aspects of the development of the gas industry.

The world's largest reserves of gas are in Russia (about 25%), followed by Iran (about 17%) and Qatar (about 12%). The GECF is open to accepting new members. The previous GECF summit was held in February 2022 in the capital of Qatar, Doha.

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