MILES AXLE Translation. Region: Russian Federation –
Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.
Alexander Novak held talks with the Secretary General of the Gas Exporting Countries Forum Mohamed Hamel
Alexander Novak held talks with the Secretary General of the Gas Exporting Countries Forum Mohamed Hamel
Alexander Novak held talks with the Secretary General of the Gas Exporting Countries Forum Mohamed Hamel
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Alexander Novak held talks with the Secretary General of the Gas Exporting Countries Forum Mohamed Hamel
Deputy Prime Minister of the Russian Federation Alexander Novak met with Secretary General of the Gas Exporting Countries Forum (GECF) Mohamed Hamel on the sidelines of the international forum “Russian Energy Week”.
Alexander Novak called the GECF an important platform for comprehensive dialogue in the energy sector and stated Russia’s interest in further increasing the organization’s authority in the gas market, where, in the context of geopolitical pressure, the demand for constructive cooperation is growing.
The Deputy Prime Minister named cooperation in the scientific and analytical fields, building up technological partnerships in the gas chemical industry, creating a gas development bank and a network of research centers around the world as priority topics for interaction between Russia and the GECF.
“GECF forecasts a 34% increase in global gas demand by 2050, with the growth drivers being developing countries in the Asia-Pacific region, the Middle East and Africa. GECF should use its potential and accumulated experience to develop the global energy market by providing developing countries with access to financial products, consulting support, and business solutions from the largest market players. Combating underinvestment in the industry should become a key mission of the GECF gas bank, especially in a situation where global development institutions refuse to finance gas projects, promoting only renewable energy sources,” said Alexander Novak.
The parties emphasized that gas as an environmentally friendly fuel will take a dominant position in the global fuel and energy balance in the next 25 years. This should be facilitated by new instruments for GECF members, in particular the possibility of organizing swap agreements and gas hubs, which will reduce logistics costs in the delivery of raw materials, as well as conclude profitable long-term contracts with gas consumers. The emergence of secure payment mechanisms is necessary, as well as the expansion of cooperation in the field of equipment and technology supplies.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.
http://government.ru/nevs/52816/
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.