BY: Dr. Hana Saada
ALGIERS- The 7th Summit of Heads of State and Government of the Gas Exporting Countries Forum (GECF) concluded its proceedings on Saturday in Algiers, under the chairmanship of President Abdelmadjid Tebboune. The summit culminated in the adoption of the Algiers Declaration, the complete text of which is as follows:
“We, the Heads of State and Government of the member countries of the Gas Exporting Countries Forum (GECF), convened in the historic city of Algiers on March 2, 2024, at the invitation of His Excellency Mr. Abdelmadjid Tebboune, President of the People’s Democratic Republic of Algeria, for the 7th GECF Summit, in a spirit of solidarity and cooperation.
Firstly,
Recalling the Declarations of the GECF Summits held in Doha (Qatar) in 2011, Moscow (Russia) in 2013, Tehran (Iran) in 2015, Santa Cruz de la Sierra (Bolivia) in 2017, and Doha (Qatar) in 2022.
Secondly,
Reaffirming:
1- The absolute and permanent sovereign rights of member countries over their natural gas resources.
2- Our commitment to the goals of the GECF and our determination to strengthen the Forum’s role while emphasizing its contribution to global energy security, equity, and sustainability.
3- Our effort to effectively manage and encourage the use of natural gas resources of member countries, aiming to promote sustainable development that benefits both producers and consumers.
4- The importance of cooperation and coordination among member countries for the development of research, innovation, knowledge, and technology transfer related to natural gas, as well as for sharing best practices and promoting capacity building.
5- Our support for robust and meaningful dialogue among producers, consumers, and other relevant stakeholders to ensure demand and supply security, promote market stability, and advocate for transparent, unimpeded, and nondiscriminatory natural gas markets.
Thirdly,
Acknowledging:
1- The fundamental role of natural gas in achieving the United Nations Sustainable Development Goals, addressing growing global energy needs, and ensuring universal access to affordable, reliable, sustainable, and modern energy for all.
2- The contributions of environmentally friendly natural gas to combating climate change and its importance in establishing fair, equitable, orderly, inclusive, and sustainable energy transitions, taking into account national circumstances, capacities, and priorities, recognizing that economic growth, social progress, and environmental protection are three closely interrelated and complementary pillars of sustainable development.
3- The risks and challenges in natural gas markets arising from geopolitical and economic situations, including physical flows, market operations, contractual arrangements, sustainable investment flows, and the integrity of sensitive natural gas infrastructure.
4- The paramount importance of natural gas demand security, transparent and nondiscriminatory legal and regulatory frameworks, and energy, trade, fiscal, and environmental policies in natural gas-importing and transit countries.
5- The need to adopt innovation-focused practices and scientifically oriented research to strengthen the significant role of natural gas in improving energy access and reducing energy poverty.
6- The significant role of natural gas in the value chain of the petrochemical sector and the chemical industry in general, with a wide range of key end markets to achieve the United Nations Sustainable Development Goals, including fertilizer production to ensure global food security and eradicate hunger.
7- The urgent need to secure demand and supplies and the necessity for open and transparent international cooperation to protect sensitive natural gas infrastructure and enhance their resilience to natural disasters, technical incidents, and threats of anthropogenic origin, including malicious use of information and communication technologies.
Fourthly,
Reiterating:
1- Our support for all countries in their relentless struggle against energy poverty and in their efforts to bring prosperity to their peoples, as well as in the exercise of their fundamental rights to develop their energy resources.
2- Our condemnation of all unilateral economic restrictions taken without prior approval from the United Nations Security Council, as well as the extraterritorial application of any measures, laws, and national regulations against GECF member countries that negatively impact the development and trade of natural gas and jeopardize natural gas supply security.
3- Our concern over the recurring volatility of natural gas demand that negatively affects global economic performance, and our determination to work with all parties to achieve balanced and reliable natural gas markets.
4- The importance of medium- and long-term natural gas contracts, fair and stable natural gas prices, and sustained investments in natural gas to enhance energy security and support the development of resilient energy systems.
Fifthly,
expressing:
1- Our determination to strengthen our cooperation to maintain the reliability and resilience of natural gas systems, to provide efficient and reliable natural gas supply, and to expand the use of natural gas for sustainable development and climate change mitigation and adaptation.
2- Our call for timely investments for market stability, unhindered flow of financial resources, access to technology, and knowledge transfer on a non-discriminatory basis.
3- Our warm welcome on the occasion of the signing of the Agreement on the Headquarters of the GECF Gas Research Institute based in Algiers.
4- Our determination to promote innovative technologies for natural gas and related industries through the Gas Research Institute for the benefit of GECF member countries.
5- Our rejection of any use of climate change as a justification to implement measures that hinder investments in natural gas projects and create any form of arbitrary discrimination or disguised restrictions in direct violation of trade rules.
6- Our firm support for African countries in their commendable aspirations and efforts to combat energy poverty, address challenges related to energy access, and promote sustainable, equitable, and inclusive socio-economic development while protecting the environment, in line with the United Nations Development Program 2030 and the African Union Agenda 2063.
7- Our rejection of any artificial intervention in natural gas markets, including attempts to alter price determination and market risk management, as well as the imposition of price caps motivated by political reasons, which can only exacerbate market conditions and discourage necessary investments to meet global energy demand.
8- Our disapproval of the unilateral implementation of unprecedented fiscal actions and measures purportedly justified by ensuring energy supply security by some, at the expense of natural gas market rules, and at the risk of exacerbating imbalances to the detriment of vulnerable populations.
Let us underscore our collective determination to:
1. Promote natural gas as an abundant, affordable, flexible, and reliable energy source, harnessing and developing more environmentally friendly, efficient, and sustainable natural gas technologies.
2. Advocate for broader use of natural gas at national and international levels as a strategic measure to combat energy poverty and advance the United Nations Sustainable Development Goals. This includes advocating for natural gas as an essential energy source for a fair, inclusive, and prosperous future, ensuring that no one is left behind.
3. Contribute to including natural gas as an ecologically sustainable resource in climate, investment, and tax regulations, international banking, and global trade.
4. Foster increased use of natural gas in maritime and land transport and develop the necessary infrastructure to provide it to all consumers efficiently and cost-effectively.
5. Support the fundamental role of long-term natural gas contracts, as well as pricing based on oil/oil product indexation, to ensure regular investments in natural gas resource development.
6. Strengthen the GECF’s position by increasing its international visibility, attracting new members, encouraging partnerships, facilitating dialogue between producers and consumers, and expanding cooperation with relevant international organizations and entities.
7. Support the development of GECF expertise and mechanisms for joint projects to reinforce the GECF’s role as a leading platform for dialogue and cooperation on natural gas-related issues.
8. Leverage the GECF Gas Research Institute to expand cooperation in, among other areas, natural gas technologies, scientifically oriented research, and innovation-focused capacity building.
9. Emphasize the crucial importance of safeguarding sensitive natural gas-related infrastructure, including cross-border infrastructure, to ensure their reliability and resilience, in addition to enhancing international cooperation and resilience to natural disasters, technical incidents, and anthropogenic threats, including the malicious use of information and communication technologies.
The Heads of State and Government welcomed the accession of the Republic of Mozambique, the Islamic Republic of Mauritania, and the Republic of Senegal to the Forum, reaffirming the GECF’s collective pursuit of strengthening energy cooperation and dialogue.
The Heads of State and Government of the GECF member countries expressed their gratitude to His Excellency Mr. Abdelmadjid Tebboune, President of the People’s Democratic Republic of Algeria, for his insightful presidency of the 7th GECF Summit, as well as to the Government and people of the People’s Democratic Republic of Algeria for their warm hospitality and excellent arrangements.
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