Algeria: GECF Secretary-General - 'Golden Age of Natural Gas Still Ahead of Us'

2 March 2024
Algerie Presse Service (Algiers)

The Secretary-General of the Gas Exporting Countries Forum (GECF), Mohamed Hamel affirmed Saturday in Algiers the importance of natural gas "in the future of the global energy market," stressing the need to boost investment in this resource, given its role in economic development, social prosperity and environment protection.

In a statement at the opening of the 7th GECF Summit, under the chairmanship of the President of the Republic, Abdelmadjid Tebboune, held at the Abdelatif-Rahal International Conference Center (CIC), Hamel said that "the golden age of gas is still ahead of us and not behind us," as evidenced by the forecasts if the natural gas's share in the global energy mix, expected to soar from 23% currently to 26% by 2050.

After stressing that this increase would be driven by global investments in the gas industry, worth US$9 trillion by 2025, Hamel assured that the call to cease investment in the gas industry on the pretext of protecting the environment, "is a misleading call" that will only lead to the use of carbon, which is not environmentally-friendly."

In this regard, he affirmed that natural gas, as an available and clean resource, "will allow us to achieve sustainable development goals (SDGs) while assuring an energy transition without marginalization," stressing that strengthening the role of natural gas contributes to reducing greenhouse gases and food security, as natural gas is one of the sources used in the production of agricultural fertilizers."

Calling the GECF's role on the global energy scene "distinguished," the GECF SG stressed that the member countries' commitment to pursuing the development of the gas chain to ensure the well-being of people while investing in the reduction of the carbon footprint, flaring, the improvement of energy efficiency and the integration of renewable energy.

"The Forum has shaped the future of energy, including natural gas, a lever and a platform for cooperation and dialogue," he continued.

Besides, the Forum is working to implement a long-term strategy launched in 2022 and a five-year action program, he said, highlighting the importance the Forum attaches to dialogue with consumer countries through international meetings and workshops.

Regarding the GECF's Gas Research Institute (GRI), whose headquarters was inaugurated on Thursday in Algiers, Hamel thanked the Algerian authorities for hosting the headquarters of this international research institution.

Read the original article on Algerie Presse Service.

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