Algeria: GECF – Need for a Shared Vision to Ensure Smooth, Balanced Energy Transition

Algiers — The Extraordinary Ministerial Meeting of the Gas Exporting Countries Forum (GECF), held on Friday in Algiers in the run-up to Saturday’s 7th Summit to be held on Saturday, has called for a “shared vision” to achieve a smooth and balanced energy transition through the development of natural gas.

During this Ministerial Preparatory Meeting for the GECF Summit of Heads of State and Government, the ministers responsible for energy in the member countries highlighted, in their speeches, the place of gas as a vital and sustainable resource able to play a crucial role in the energy transition in view of environmental challenges.

In this regard, Minister of Energy and Mines Mohamed Arkab said that natural gas, the energy of the future, should play a key role in achieving “a smooth and balanced energy transition” in the long term, as highlighted by numerous studies, notably those carried out by the GECF.

Arkab also said that investment in natural gas resources required substantial capital, highlighting the need for “continuous and serious dialogue” between producers and consumers to build “a shared forward-looking vision” that would recognize the growing role of natural gas in the global energy mix, as a sustainable and competitive source capable of guaranteeing energy security.

For his part, Qatar’s Minister of State for Energy Affairs, Saad Sherida Al-Kaabi, said that it was important for GECF member countries to work to achieve a unified vision that would guarantee “a fair energy transition for all,” by moving towards low-carbon energies.

As he called for the role of natural gas to be strengthened as the world’s “preferred fuel,” the Qatari Minister stressed that energy supply was a major challenge for many countries, in a climate marked by geostrategic conflicts that had created a climate of uncertainty for many countries working to boost their economic growth.