25 October 2022 - 13:09
  • News Code: 463417
Sanctions on Gas Suppliers Could have Devastating Results: Owji

TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji told the 24th Ministerial Meeting of Gas Exporting Countries Forum (GECF) in Cairo, Egypt, that imposition of sanctions on producers of oil and gas could bring about irreparable damage to the global economy.

The following is the full transcript of Mr. Owji’s address at the meeting.

HE Tariq Al-Moula,

Esteemed President of the 24th GECF Ministerial Meeting

Honorable Minister of Petroleum and Natural Resources of the Arab Republic of Egypt

HE Eng. Mr. Mohammad Hamel,

Esteemed Secretary General of the Gas Exporting Countries Forum

Honorable Ministers,

 Excellencies,

Ladies and Gentlemen,

It is a great pleasure for me to participate in the 24th Ministerial Meeting of the Gas Exporting Countries Forum as the Petroleum Minister of the Islamic Republic of Iran. I would like to take this opportunity to express my appreciation to the government of the Arab Republic of Egypt for hosting this meeting in beautiful Cairo, which is the cradle of human civilization.

Honorable chairman of the meeting,

Excellencies,

As you are fully aware, natural gas plays an important and decisive role in the energy transition period, and due to its environmental advantages, has significant potentials to substitute other fossil fuels, including coal. In addition to playing a role in providing and maintaining the world's energy security, natural gas may help to promote sustainable energy systems with less carbon emissions and improve the conditions dominating the climate changes of our planet. Natural gas may also contribute to the achievement of the seventh goal of sustainable development approved by the United Nations.

Given the importance of environmental issues in the framework of the Paris Agreement and the United Nations Climate Change Convention, it is essential for the GECF member countries to put on the agenda new policies aimed at reducing the amount of carbon emitted from the natural gas production process. As I have been involved in engineering and administration activities in Iran’s gas sector for many years, I trust that this could be feasible due to the political will and existing technical and engineering capabilities of GECF Member countries. In the meantime, it is essential for developing and particularly developed countries to severely concentrate on novel technologies such as Carbon Capture, Utilization and Storage (CCUS), mitigation of Methane leakage or blue hydrogen production. Fortunately, carbon reduction technologies from the natural gas production cycle are available to us, but in my opinion, the realization of the global ecosystem with Net-Zero Emission (NZE), without political will, financial resources, investment in infrastructure, and serious scientific and technological cooperation of all stakeholders will not go beyond the slogan stage.

Regarding the strategic position of the GECF member countries and their share of almost 50% in the global gas and LNG export portfolio, it is pretty essential to strengthen the potentials, capabilities and required arrangements of the Forum. Improving synergy and collective coordination will secure the interests of all members and ensure the security of global natural gas supply.

Despite the numerous challenges that the GECF has faced with in the global gas market over recent years, within the framework of its                long-term strategy and statute, the Forum has succeeded in strengthening alignment, coordination and cooperation in the Forum. These strategic arrangements have enabled the Forum to play its key role in maintaining and promoting global energy security in the Covid and post- Covid era. However, we have a long way ahead of us full of uncertainties, which requires the promotion of solidarity and promoting cooperation of the Members of the Forum.

Dear colleagues,

I would like to emphasize that improving the position of the Forum in the global gas markets and playing a more effective role in ensuring the world's energy security is an inevitable necessity for the growth and development of developing countries. Hence, it is my suggestion that common thoughts and cooperation of all members of the Forum be improved at "strategic, managerial and technical" levels. In my view, the exchange of successful experiences among member countries at the mentioned levels is of significant importance.

Hereby, I would like to reiterate the Islamic Republic of Iran’s readiness to play a prominent role in the framework of the special initiative of the President of the Islamic Republic of Iran HE Dr. Seyed Ebrahim Raisi entitled "Natural gas at the disposal of the global economy in the post-corona era" which was proposed at the sixth GECF Summit in Doha, Qatar. As one of the world’s largest holders of proven natural gas reserves and one of the largest owners of domestic natural gas distribution networks in the world, the Islamic Republic of Iran is ready for whatever cooperation in various fields: natural gas exploration, drilling, development, exploitation and distribution. The realization of this issue requires the promotion of potency, strategic management and technical-engineering capabilities. In this regard, encouraging international joint investment will play a prominent role. This strategy is a collective strategy and through benefitting from it, the technological power of the member countries of the forum in the development chain of the natural gas industry will be strengthened.

Excellencies,

The development of the global gas industry and the realization of the security of supply and demand of natural gas in the world markets require global peace and de-politicization of energy trade. In this context, the imposition of any unilateral or multilateral sanctions on every member of the Forum is assumed, in our view, as a political action, in contradiction with the principles and standards of international law and against economic rationality. It is worth mentioning that the victims of jeopardizing energy security are ordinary people and particularly developing countries. The fact is that despite the unilateral and cruel sanctions of the United States, while relying on domestic potential and the development of foreign markets Iran has managed to achieve significant progress.

Distinguished Ministers,

 Excellencies,

 Ladies and Gentlemen,

As the Petroleum Minister of the Islamic Republic of Iran, I support the interests of gas producers and exporters of the Forum. I am confident that strengthening like-mindedness and cooperation between the member and observer countries in coping with the challenges of the global gas market, will bring about a bright future for us.

 In the end, I would like to express my appreciation to my brother, HE Tariq Al-Moula, the distinguished chairman of the ministerial meeting, the esteemed oil and energy ministers of the GECF member and observer countries. I would also like to appreciate the efforts made by Ms. Penelope Bradshaw Niles, the distinguished chairman of the Executive Board (EB) of the Forum and other esteemed EB members. Also, I would like to express my gratitude to Engineer Mohammad Hamel, the esteemed Secretary General of the GECF and the capable staff of the Secretariat. And once again, I would like to thank the Honorable Minister of Energy and Natural Resources of Egypt for holding the 24th Ministerial Meeting in Cairo. May God Almighty bless  the great and historic nation of Egypt.

News Code 463417

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