APS : Tuesday, 30 October 2018
ALGIERS- Secretary General of the Gas Exporting Countries Forum (FGEC) Yury Sentyurin on Tuesday in Algiers called on the member countries to engage further investments to increase gas production and supply on the long run.
“The FGEC is currently considering several topics with the aim of boosting gas production and ensure supply on the long run. We think that the member countries should engage in this process (of improving gas production) by launching investment projects,” Sentyurin told the “Algeria Future Energy” Summit, organized on 29- 30 October in Algiers.
In this regard, he deemed “necessary” the use of technology to face the multiple challenges facing the world gas market.
The world gas output now exceeds 140 billon m m3, said Sentyurin.
Most pipelines are directed towards Europe and new strategies are needed for gas distribution to Europe, added FGEC chief.
“We must inscribe in our forecasts the increase of the volume of gas exported to Europe,” which remains a huge consumer of gas.
Even if Europe remains huge consumer of gas, FGEC Secretary General said that Algeria should seek further markets.
According to him, gas will remain a dominant source of energy for a long time.
Moreover, the Secretary General of the Gas Exporting Countries Forum emphasized the role of Algeria in the dialogue between OPEC and non-OPEC countries to reach an agreement allowing a recovery of oil prices.
He also broached Algeria’s efforts to help ensure the security of the global gas market.
A ‘Gas Research Institute’ will be created in Algeria following the decision of the 19th FGEC meeting held in 2017 in Moscow.
Earlier, Minister of Energy Mustapha Guitouni and Secretary General of the Gas Exporting Countries Forum (FGEC) Yury Sentyurin have met to discuss the prospects of the global gas market as well as the project of FGEC ‘Gas Research Institute which will be built in Algeria, said the energy ministry in a communiqué.
The meeting took place on the sidelines of the Algeria Future Energy Summit, organized on 29- 30 October in Algiers.
The two officials also discussed the prospects of gas markets and industries, as well as the holding of the 20th ministerial meeting of the Gas Exporting Countries Forum (FGEC), planned on 14 November 2018 in Trinidad and Tobago.
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