MOSCOW, October 27. /TASS/. Member countries of the Gas Exporting Countries Forum (GECF) account for approximately 40% of global gas exports, Russian President Vladimir Putin stated at the GECF summit.

The Russian leader highlighted that the GECF’s core characteristics - openness, clarity, and objective assessments - are highly significant for both gas producers and consumers, as well as for the global energy sector as a whole.

"Especially considering that, collectively, the Forum’s members hold 70% of the world’s natural gas reserves and account for about 40% of global gas exports," Putin emphasized.

This means that GECF member countries make a significant contribution to ensuring global energy security and the balanced development of states and macro-regions, Putin noted. "This primarily concerns new centers of economic growth in Asia, Africa, and Latin America, where energy consumption is rising, cities are rapidly expanding, industrial facilities are being built, and electricity is increasingly being used in industry, transport, and the digital economy - including in data storage and processing centers," the president explained.