Natural gas, oil industry challenges emphasized in IEF Declaration
APS : Wednesday, 28 September 2016
ALGIERS- Final Declaration of the 15th International Energy Forum of Algiers (IEF15) has stressed the importance of natural gas, noting that oil industry is facing “structural challenges” because of the falling prices.
In the final declaration distributed to reporters following the Forum’s works, held behind closed doors, the participants emphasized the key role of natural gas in energy supply with the growing demand and the need to resort to this type of energy which is “available” and “clean.”
The delegations taking part in the event agreed on carrying on dialogue between producers and consumers to boost global energy security and facilitate energy transition.
The participants also tackled the impact of the imbalance of market fundamentals on energy investment since the last forum, held in Moscow in 2014.
The imbalance, however, has created new significant opportunities for the energy sector’s reform, the declarations underlines.
Concerning the theme of the first plenary session (oil markets, prospects and challenges), the delegates noted, in the declaration, that the challenge of stability persists even though the volatility of prices is expected to abate.
The participants also stressed the persistence of the uncertainty of offer and demand.
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