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Zim urged to monitor forum as an emerging gas producer

Zim urged to monitor forum as an emerging gas producer

Story by Tapiwa Machemedze

THE world’s leading gas exporting countries will converge in Algeria this Thursday to come up with ways of improving stability, security of supply and demand of the product across the globe.

Key players in the gas industry are heading for Algeria where producers, exporters and consumers will strategise on the state of sector and map its growth trajectory.

The meeting organised by the Gas Exporting Countries Forum (GECF) starts on Thursday and reaches a climax on Saturday, with the 7th Heads of State and Government Summit.

International relations expert Mr Conwell Muzhanye says although Zimbabwe is not yet a member of the GECF, there is need to monitor events closely after gas was found in the Cabora Basa Basin by Invictus Energy.

“The platform offers and a practical environment for learning and development through interaction with major players already in massive gas production and exportation. In that regard, there are obvious low-hanging fruits which Zimbabwe can effectively use. It must also be pointed out that Zimbabwe has confirmed gas deposits in Muzarabani and Mbire thus the forum gives the country an important steppingstone in terms of engagement, learning and also lobbying to join the major players already in existence who have successfully established a competitive market for gas exploitation,” he said.

The Algiers summit comes amid a growing focus on natural gas as a crucial energy source for economic and social development as well as its potential as a clean and environmentally friendly energy source.

The GECF is an intergovernmental organisation that provides a framework for exchanging experiences among member countries with its full-fledged members comprising Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, UAE and Venezuela.

Angola, Azerbaijan, Iraq, Malaysia, Mauritania, Mozambique, Peru hold observer status.

The GECF enjoys a dominant position on global energy markets and among international energy organisations as members represent 69% of the world’s gas reserves, 39% of the marketed production, and 40% of global gas exports.

GECF member countries collectively account for 51 percent of Liquefied Natural Gas.

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