7th GECF Summit in Algiers- Energy Minister Arkab: “Natural Gas Essential in a Safe and Equitable Energy Transition”
BY: Dr. Hana Saada
ALGIERS- The extraordinary ministerial meeting preceding the seventh Summit of Heads of State and Government of the Gas Exporting Countries Forum (GECF) serves as a pivotal step towards fostering constructive dialogue and cooperation among member states, affirmed Mohamed Arkab, Algerian Minister of Energy and Mines, this morning.
“This meeting will strengthen and support this event, during which we affirm our commitment and collective awareness of the need to intensify cooperation and consultations, advancing the formulation of effective proposals and recommendations to submit to the summit tomorrow to address the challenges our countries will face in the future,” stated Arkab.
Continuing, Mr. Arkab noted, “It is an honor and privilege for Algeria to host this important event. The country will spare no effort to ensure the success of the proceedings and activities of this significant summit.”
In this context, and following the directives of the President of the Republic, the Minister continued, “The Algerian Government has worked with determination and dedication to ensure the success of this summit, enabling leaders of member states of the Forum to discuss the most important issues related to cooperation in the development and support of the role of natural gas in the well-being of our countries and in contributing to global energy security.”
As a founding member of the Gas Exporting Countries Forum and given its leadership role in the natural gas industry, “Algeria has invested significantly in the exploration, development, transformation, transportation, and commercialization of natural gas.”
Highlighting Algeria’s undeniable strengths, Mr. Arkab emphasized that the country can achieve “its own energy security, contribute to global demand by exporting large quantities through pipelines and shale gas to different regions of the world.”
Furthermore, Algeria, Mr. Arkab added, “is also considered one of the most attractive destinations for investors, given its potential for fossil energy as well as new renewable energies, within an incentivizing and flexible regulatory and fiscal framework to promote investment and partnership.”
Moreover, the Minister indicated that “we are meeting today against the backdrop of significant geopolitical and structural changes in energy markets, particularly in gas, which compel us to examine and address key issues, notably the gradual transition to a global economy based on clean energy sources, to address climate change, which is both a challenge and an opportunity.”
Natural gas, considered the energy of the future, “should play a crucial role in achieving a safe and equitable long-term energy transition, as emphasized by numerous studies, including those of the Gas Exporting Countries Forum.”
Additionally, Mr. Arkab highlighted, “Investment in natural gas requires a high capital intensity, and continuous and serious dialogue between producers and consumers is necessary to develop a common forward-looking vision, recognizing the increasing role of natural gas in the global energy mix as a viable and competitive source, ensuring strong energy security provided it is better and more equitably valued for all.”
With technology being crucial for the future of natural gas, “Algeria has the honor of hosting the headquarters of the Forum’s Gas Research Institute, inaugurated yesterday, which will be a crucial instrument to stimulate our scientific cooperation in research and technological innovation for the development of the natural gas industry, particularly through common priority projects aimed at building strong, flexible, and sustainable energy systems.”
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