Egypt selected to host the 8th Ministerial Gas Forum in 2022

Egypt selected to host the 8th Ministerial Gas Forum in 2022
Egypt selected to host the 8th Ministerial Gas Forum in 2022

Books – Mustafa Eid:

The World Energy Forum and the International Gas Union decided to choose Egypt to host the eighth gas ministerial meeting during 2022, which is organized by the Forum and the Federation, according to a statement from the Ministry of Petroleum today, Wednesday.

The Natural Gas Forum is scheduled to discuss the global economic recovery after the repercussions of the “COVID-19” pandemic, and the sharp rise in natural gas prices that the markets witnessed during 2021.

During the forum, ministers will also assess global climate and energy issues following the United Nations Climate Change Conference “COP26 Climate Summit”, scheduled for November 2021.

Tarek El Molla, Minister of Petroleum and Mineral Resources, said that natural gas is the cleanest type of hydrocarbon and a reliable source of energy.

He added that the importance of the Gas Ministerial Forum is to continue global discussions between major producers and consumers of natural gas to identify common visions to achieve market stability, security and transparency regarding one of the world’s fastest growing primary energy sources.

Joseph McMonigle, Secretary-General of the World Energy Forum, said: “The Ministerial Gas Forum of the World Energy Forum and the International Gas Union (IEF-IGU) is a critical component of the global energy dialogue, which will enable gas market participants to exchange views and reach a common vision. “.

He added that this comes at a time of great uncertainty and fears about economic recovery, coinciding with increasing demand and rising prices, while countries plan their economic paths on the basis of reducing carbon emissions to zero.

The World Energy Forum is the world’s largest energy organization, with 71 member states representing 90% of the global energy market, which was established three decades ago to serve as a neutral platform for dialogue between major energy producers and consumers.

Professor Jo Kang, President of the International Gas Union, said: “Dialogue is critical to ensuring that natural gas and carbon-neutral renewable energy development activities continue to provide accessible, safe, stable and affordable energy as the world makes progress in the energy transition.” .

He continued, “Given its inherent characteristics, gas serves as the catalyst and basis for a just transition, and partnership with renewable energy sources to replace more polluting fuels.”

The International Gas Union includes all major natural gas producing countries, and encourages international trade in gas by supporting non-discriminatory policies, sound contracting principles and promoting the development of technologies that add to the environmental benefits of natural gas.

A press release issued by the forum, which is expected to be held during the second half of 2022, indicated that, during the past seven years, Egypt witnessed a major transformation and achieved successes in all sectors, making it the “desired destination” for major investors from all over the world.

He stated that Egypt is currently the headquarters of the recently established East Mediterranean Gas Forum “EMGF”, which presents opportunities for further cooperation and integration in the gas field for the benefit of the entire region.

The statement pointed out that natural gas is the cleanest and fastest growing fossil fuel today, contributing about a third of total energy demand growth over the past decade, compared to other fuels, and currently represents a quarter of primary energy supply.

Natural gas contributes to decreasing greenhouse gas emissions from the energy sector in Europe and the Organization for Economic Co-operation and Development (OECD) countries over recent decades, while providing energy safely and easily, according to the statement.

The forum said that gas will continue to be the preferred fuel in the energy transition in developing economies to countries outside the Organization for Economic Cooperation and Development, where reducing emissions from coal is a top priority.

Switching to gas is also very positive, in terms of improving air quality and reducing pollutants that cause respiratory diseases, leading to improved public health.

The Government of Malaysia hosted the 7th IEF-IGU Ministerial Gas Forum meeting in December 2020, where delegates assessed the impacts of the COVID-19 pandemic and discussed the prospects for the gas market.

 
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