Iran’s First VP Heads to Bolivia to Attend 4th GECF Gas Summit

News ID: 1582023 Service: Economy
جهانگیری سفر

TEHRAN (Tasnim) – Iranian First Vice-President Eshaq Jahangiri left Tehran for Santa Cruz de la Sierra, Bolivia, to attend the fourth summit meeting of the Gas Exporting Countries Forum (GECF).

During his stay in Bolivia, Jahangiri is expected to hold bilateral meetings with members of other participating countries on a range of issues, including gas and energy ties. 

The fourth GECF Gas Summit will be held on November 24.

The Gas Exporting Countries Forum has 19 main and observer members and its permanent secretariat is located in Qatar’s capital city, Doha. Iran, Russia, Qatar, Algeria, Bolivia, Egypt, Equatorial Guinea, Libya, Nigeria, Trinidad and Tobago, Venezuela, Peru, the United Arab Emirates, and Oman are main members of GECF.

The forum’s observer members include the Netherlands, Kazakhstan, Iraq, and Norway.

Member states of GECF account for 42 percent of global gas production, 70 percent of global gas reserves, 40 percent of natural gas transmission through pipeline, and 65 percent of the world’s liquefied natural gas (LNG) trade.

Unlike the Organization of the Petroleum Exporting Countries (OPEC), whose main goal is to determine the supply and price of crude oil in international markets, GECF’s main goal is to monitor global gas market and to facilitate exchange of information and experiences among member countries.

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