7th Gas Exporting Countries Forum in Algeria: “A Crucial Platform Amid Geopolitical Uncertainties,” Says Tesha Teshanovich
BY: Hana Saada
ALGIERS- During the upcoming 7th Gas Exporting Countries Forum in Algeria, gas-producing nations will convene to address their evolving global role, which has become increasingly significant amidst geopolitical shifts. Tesha Teshanovich, a Serbian expert and Principal at Agile Dynamics, highlights the forum’s critical importance during a period of geopolitical volatility and tension, emphasizing the need for strong alliances among gas-producing nations.
Teshanovich notes, “In a time marked by fluctuations and changing geopolitical dynamics, the Algiers Forum provides an essential platform for gas-producing countries to safeguard their interests, strategies, and policies. Collaborative efforts are crucial to effectively navigate the current global landscape.”
As globalization’s role diminishes amid current fluctuations and trade patterns shift based on geopolitical ties, gas-producing nations must adapt. The forum serves as an opportunity for discussions on diversification strategies in gas trade, exploration of new markets, and the development of frameworks for engaging a diverse range of trading partners.
Regarding the future of the global gas sector, Teshanovich asserts, “The narrative of the gas sector is one of adaptation and strategic positioning. With oil price volatility in 2023 and the energy market facing uncertainties, natural gas emerges as a significant player. Investments, particularly in liquefied natural gas (LNG) infrastructure, indicate confidence in gas as a key component of the global energy mix until 2050.”
Teshanovich continues, “The notable investment in LNG, with over 200 million tons of new export capacity expected in the next five years, underscores the ongoing relevance of natural gas. If early-stage projects progress, the increase in LNG capacity could be even more substantial, potentially reaching a 70% increase from current levels. This expansion highlights the enduring significance of natural gas in powering homes worldwide.”
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