ENVIRONMENT   Transportation   Gas  

GECF: Gas Indispensable in Mitigating Climate Change

Natural gas is an 'indispensable' part of the global energy mix needed to limit the impact of climate change and protect the environment, the Gas Exporting Countries' Forum (GECF) said Friday.

In a communique following the GECF's 5th Gas Summit in Malabo, Equatorial Guinea, the forum said natural gas is of "vital importance" to ensure global energy security, S&P Global reported.

The summit declaration acknowledges the "indispensable contribution of natural gas to the protection of the environment and, in particular, for mitigating and adapting to climate change."

GECF is made up of the world's biggest gas exporters including the big hitters Russia, Qatar and Iran and holds around 60% of the world's proven gas reserves. 

Although often referred to loosely as the "Gas OPEC', the forum is more of an advisory body rather than one that takes collective policy action.

The comments come amid an emerging ground-swell of climate concerns over fast-growing global gas consumption as part of a push to sideline fossil fuels in favor of clean, renewable energy.

Natural gas has emerged as the fasted growing fossil fuel in recent years, accounting for 45% of the rise in energy consumption in 2018, according to the International Energy Agency. 

Led by China and the Middle East, the IEA sees global demand for natural gas growing more than four times faster than demand for oil over the next two decades.

The GEFC said it wants to further promote the use of natural gas as an "environmentally-friendly" transport fuel including for global shipping.

News No: 7644
Date: 2019/11/30 - 18:11
News Source: Financial Tribune

Gas  GECF  energy  environment  transport fuel 


Leave a Comment:


Daily gas supply to power plants up 5%

National Iranian Gas Company (NIGC) is currently supplying 253 million cubic meters (mcm) of natural gas to the country’s power plants on a daily basis, five percent more than the average daily supply in the previous Iranian calendar month (ended on June 20), the spokesman of the National Iranian Gas Company (NIGC) said.

Without govt. support private power plants at risk of shutting down

In recent years, due to the government funding constraints and financial pressures, Iranian private companies have taken on the mantle of developing the country’s power plants including both large-scale thermal plants and small-scale renewable ones.

500,000 smart electricity meters installed for big-scale consumers

Some 500,000 smart electricity meters have been installed for large-scale consumers across the country, IRNA reported quoting an official with Iran's Power Generation, Distribution and Transmission Company (known as Tavanir).

PSEEZ enjoys high potential for investment

Nooshin Rahgozar, the commercial attaché of the Belgian embassy in Tehran, says that Pars Special Economic Energy Zone (PSEEZ) enjoys some high potential for investment making, Shana reported.

Projects worth over $2b inaugurated in 2nd phase of A-B-Iran program

Iranian Energy Minister Reza Ardakanian announced that projects worth 90 trillion rials (about $2.14 billion) have been already inaugurated in the water and electricity sectors of the country in the second phase of the A-B-Iran program, IRNA reported.

Appia to drill at world’s 2nd richest rare earth prospect

About 80-85% of North America’s rare earths supply currently comes from China, a situation that is becoming untenable, given the US-China trade war tensions and coronavirus pandemic.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners