25 October 2022 - 17:18
  • News Code: 463423
Iran Ready to Cooperate with GECF Members in all Gas sectors

TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji voiced Iran’s readiness to cooperate with all the members of the Gas Exporting Countries Forum (GECF) in all areas of development of the gas industry, including joint investments, natural gas swaps, cooperation in the framework of gas contracts, development and export of technical and engineering services, knowledge transfer and development of expert human resources.

Speaking to Shana on the sidelines of the 24th GECF ministerial meeting, Mr. Owji stated that Iran is one of the largest owners of proven natural gas reserves in the world and one of the largest owners of the domestic gas distribution network and is ready for any cooperation in the fields of exploration, drilling, development, exploitation and distribution of natural gas.

The following is a short interview of the Oil and Energy Information Network (Shana) with the Minister of Petroleum:

Considering the current conditions in the world's energy field, how do you evaluate the importance of natural gas in providing the world's energy security?

Natural gas, as a clean, flexible and accessible fuel, has a very important and decisive role in meeting the world's energy needs, especially in a situation where the world is on the path of energy transition and towards achieving sustainable development goals and is transitioning towards clean energy sources. Natural gas has a significant ability to replace polluting fossil fuels such as coal due to its environmental advantages. According to the latest gas outlook report of GECF, the share of natural gas in the world's energy portfolio is expected to increase from 23% in 2022 to 27% in 2050. However, we should not forget that the realization of this requires large investments in the natural gas supply chain, support policies, market stability and free access to financial resources.

How can GECF act in order to improve the position of natural gas in the world's energy consumption portfolio?

Considering the strategic position of the member countries of the forum, which have more than 70% of the world's gas resources, and more than 50% of the world's gas exports, whether through pipelines or in the form of LNG, this forum can take important steps in improving the position of natural gas in the world's energy consumption mix. In this regard, it is necessary for member countries to increase synergy and collective coordination to protect the interests of members of the forum and protect the security of global natural gas supply. Even now, despite the many challenges in the global gas market in recent years, GECF has been able to strengthen consensus, coordination and cooperation among the member countries within the framework of its statute and long-term strategy. These strategic arrangements have enabled the Forum to play its key role in maintaining and promoting global energy security during the outbreak of the coronavirus and in the period after it. At the same time, we have a long and uncertain road ahead, which requires greater solidarity and cooperation among the members of the Forum.

Considering the importance of increasing the volume and defining new routes of natural gas, to what extent do you consider it necessary to apply new policies in the agenda of the members of the Forum?

I believe that considering the current developments in the field of world energy, the issue of adopting new policies in accordance with the current conditions of the energy world is of particular importance. It seems that the members of the Forum should take steps in order to increase the economic efficiency and expand the natural gas trade and obtain new technologies related to the gas trade, including the technologies related to LNG, and accept de-monopolizing the technologies related to the gas trade as a principle. At the same time, it is necessary for the member countries to pay serious attention to the expansion of technical cooperation to achieve new technologies such as carbon absorption, exploitation and storage, reduction of gas leakage, or the development and production of blue hydrogen. Fortunately, carbon-reducing technologies from the natural gas production cycle are available to us, but I believe that the realization of the global ecosystem with zero carbon emissions, without political will, financial resources, investment in infrastructure, and serious scientific and technological cooperation of all stakeholders, remains a mere slogan.

What is the role of Iran, as one of the founding members of the forum, in advancing the forum’s goals?

Iran is ready to play a role in the framework of the special initiative of Seyed Ebrahim Raisi, the President of Iran, entitled "Natural gas at the service of the global economy in the post-Corona era", which was proposed at the sixth summit of the Forum in Doha, Qatar. As one of the largest owners of proven natural gas reserves in the world and one of the largest owners of the domestic natural gas distribution network in the world, Iran is ready for any cooperation in the fields of exploration, drilling, development, exploitation and distribution of natural gas. The realization of this requires improvement of the power and strategic management and technical and engineering capabilities, and in this context, encouraging international joint investments plays a prominent role. This strategy is a collective strategy and through it, the technological power of the member countries of the forum is strengthened in the development chain of the natural gas industry.

News Code 463423

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