On November 21, 2015 the Energy Ministers of the Gas Exporting Countries Forum (GEFC) re-elected Iran’s representative Hossein Adeli as General Secretary of the organization for two coming years.
“Adeli has been re-elected to the position of GEFC General Secretary for 2 years,” reads the Forum Declaration. Iran’s representative will act as General Secretary of the organization since January 1, 2016.
The Declaration reads that Azerbaijan will become a new observer of GEFC.
It has been announced at the Minsters’ meeting that the next 18th GEFC Minister meeting will take place on November 17, 2016.
The 3rd GEFC summit will take place in Tehran today to exchange opinions on gas export and production.
The meeting of high-ranking representatives of 18 GEFC member-states will play a decisive role for almost all the countries and all the decisions made at this meeting will strongly affect the economic perspective of the country as a whole and the sectors of industry, which consume gas.
GEFC united the countries, which are world leaders of natural gas export. The Forum was founded in Tehran in 2011 and was legally established on December 23, 2008 in Moscow, where Energy Ministers of the member-states adopted the regulations of the Forum and signed the intergovernmental agreement.
GEFC member-states include Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, United Arab Emirates and Venezuela. Iraq, Kazakhstan, Netherlands, Norway, Oman and Peru take part as observers. CEFC headquarters is based in the capital of Qatar Doha.—0—
Economics
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Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
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U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
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Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
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Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
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