7th GECF Summit in Algiers- Minister Arkab: “The Preparatory Ministerial Meeting for the Algiers Summit was Highly Fruitful”
BY: Dr. Hana Saada
ALGIERS– Minister of Energy and Mines, Mohamed Arkab, affirmed yesterday in Algiers that the extraordinary ministerial meeting of the Gas Exporting Countries Forum (GECF), attended by energy ministers from member and observer countries, ahead of the 7th summit of heads of state and government, was “very fruitful” and “characterized by dialogue and cooperation.”
Mr. Arkab emphasized that “this meeting allowed us to discuss the importance of the gas industry for the coming period, the role of gas in supporting future energies, including new and renewable energies, as well as the long-term role this resource will play in supporting renewable energies and new technologies in the gas industry.” The outcomes of the extraordinary meeting, chaired by Algeria, were submitted to the summit of heads of state and government of the forum.
“Algeria, One of the Most Attractive Investment Destinations”
Prior to this, Minister Arkab observed during his address that Algeria is “one of the most attractive destinations for investors, given its potential in fossil and new and renewable energies, as well as its conducive and flexible regulatory and fiscal framework for promoting investment and partnership.”
The Minister of Energy and Mines specified that this meeting comes amid significant geopolitical and structural changes in energy markets, particularly in gas, which, he said, “require us to study and address major issues, including the gradual transition to a global economy based on clean energy sources to tackle climate change, which represents both a challenge and an opportunity.”
Natural gas, the energy of the future, is expected to play an essential role in achieving “a smooth and equitable energy transition” in the long term, as highlighted by numerous studies, including those conducted by the GECF, the minister estimated.
Need for “Continuous and Serious” Dialogue Between Producers and Consumers
Acknowledging that investment in natural gas resources requires significant capital, the minister highlighted the need for “continuous and serious dialogue between producers and consumers to build a common prospective vision that recognizes the growing role of natural gas in the global energy mix, as a sustainable and competitive source capable of ensuring energy security.”
Highlighting the “decisive” role of technology in the future of natural gas, Mr. Arkab affirmed that “Algeria is honored to host the headquarters of the Gas Research Institute (GRI), which was inaugurated on Thursday.”
This institute “will play a crucial role in promoting our scientific cooperation in research and technological innovation to develop the natural gas industry, particularly through priority joint projects aimed at building strong, resilient, and sustainable energy systems.”
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