Gas Export Countries Forum Focused on "Increasing Volatility"

Minister of Energy and Industry Dr Mohamed bin Saleh al-Sada on Tuesday said the major challenge facing gas producers was the “increasing volatility” of the energy market and urged the Gas Exporting Countries Forum (GECF) member countries to be fully alert to the situation.

Chairing the 16th Ministerial Meeting of the GECF in Doha, he said the price volatility was driven by a variety of reasons including economic and geopolitical elements, which may adversely affect market stability.

“We need to be alert and keep monitoring the expected challenges of the gas industry due to this probability of an energy glut in the market,” al-Sada said.

The GECF, al-Sada said was a “platform for cooperation”. Its existence and the successes achieved so far were a reflection of its members’ determination to co-operate.

“Yet, our mutual understanding and co-operation has to grow further, especially in facing the future challenges,” the minister stressed.

Al-Sada hoped the benefits of co-operation and collaboration among the GECF member countries would be reflected on the global gas industry in a way that contributed to realising the interests of all concerned parties.

“We assure once again our continuous support in strengthening the gas forum,” al-Sada said.