LOC15:31
12:31 GMT
ALGIERS, March 1 (KUNA) -- Algeria is working with its international partners to address challenges facing natural gas, Algerian Minister of Energy Mohammad Arkab said Friday.
In an inaugural speech at the extraordinary ministerial meeting for the Gas Exporting Countries Forum (GECF), Arkab added that his country is working to enhance its position at the gas market.
He indicated that Algeria has invested much in exploring, developing and marketing natural gas.
Algeria is able to achieve its energy security and contribute to meeting global needs through exporting huge quantities via gas pipelines, he stated.
Investing in natural gas requires big funds, thus it was necessary to hold serious and continued dialogue among producers and consumers of natural gas to build a common exploration vision approving the growing role of natural gas as a sustainable and competitive source, which ensures energy security, Arkab elaborated.
Amid big developments in the world on the sources of energy and changes, the ministers are convening today in light of geopolitical changes and structuring at energy markets, mainly gas, the Algerian minister said.
The meeting aims to study and address the main issues, including the gradual transformation of a global economy based on clean sources to combat climate change, Arkab pointed out.
It is expected that natural gas plays a key role in achieving a smooth and fair energy transition in the long run, he said.
The Algerian government is working hard to make a successful summit, and help the leaders discuss the most important issues, Arkab stressed.
The ministerial meeting kicked off earlier in the day, with the participation of energy ministers and officials to discuss the final copy of Algeria announcement and relevant decisions before being referred to the 7th GECF Summit due on Saturday for approval.
The forum is an intergovernmental organization representing the most important gas exporting countries in the world that constitute altogether 70 percent of global gas reserves.
It includes 12 permanent members - Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, the United Arab Emirates, and Venezuela - and seven observers - Angola, Azerbaijan, Iraq, Malaysia, Mauritania, Mozambique, and Peru. (end)
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