Kazakhstan partakes in Summit of Gas Exporting Countries Forum

According to Kazakhstan Foreign Ministry, the Gas Exporting Countries Forum was established in 2001 and was legally inaugurated in 2008 with the adoption of its Charter. The aim of the Forum is to foster mutual understanding and dialogue between producers, consumers and governments of the respective countries on global gas policy. Given its significant role on the global energy market and importance of the Caspian partnership, Kazakhstan was invited as an honorable guest and was represented at the Summit by Minister of Foreign Affairs of Kazakhstan Yerlan Idrissov. Participants of the Forum discussed situation and prospects of global gas industry development, its advantages as an alternative and clean energy source, topical issues related to environment, dynamics and balance on the gas energy market, the ways to increase the number of industrial areas where gas can be applied, pricing, coordination of interaction between the members of the Forum, investments and optimization of gas consumption, as well as ensuring supply and meeting the global gas demand. Participants also noted that in general the members and observers of the Forum satisfy more than 85 per cent of the global needs on the world gas market. To ensure sustainable energy security, gas industry needs significant investments in exploration, processing, extensive infrastructure and supply diversification, development of new transport and transit routes, as well as in development of gas spot and stock exchange trades. Addressing the Summit, Foreign Minister Idrissov drew participants' attention to the main directions of Kazakhstan's policy in further development of the gas sector of the country. Besides the plans to increase natural gas production, Kazakhstan is actively engaged in production and export of liquefied gas. A particular interest was raised by the position of Kazakhstan announced by the Head of Foreign Service concerning the regional and global trends in gas production and supply. It was highlighted that Kazakhstan played a key partner role in gas transit. International gas transit through the territory of Kazakhstan amounted to more than 65 bln m³ in 2015. It was noted that Kazakhstan would officially join the WTO in one month and would sign the new Enhanced Partnership and Cooperation Agreement with the EU. Considering the goals set on diversification of export gas supply, all these will give substantial economic advantages not only to Kazakhstan, but also to entire Central Asia. The outcome of the Summit was the adoption of the Declaration, according to which the participants of the meeting declared their willingness to jointly ensure reliable natural gas supply to the world market and encourage the transfer of new technologies in gas industry. On Nov. 24, in the course of the visit of the Minister of Foreign Affairs of Kazakhstan to Tehran there will be official meetings with Iranian President Hassan Rouhani, Minister of Foreign Affairs Mohammad Javad Zarif, Minister of Industry, Mine and Trade Mohammad Reza Nematzadeh, as well as Minister of Petroleum Bijan Zanganeh. It is planned to discuss the current status and prospects of bilateral, multilateral and regional cooperation between Kazakhstan and Iran.