ABUJA: GECF Secretary General Mohammad-Hossein Adeli appreciated members’ activities and said the Tehran Gas Summit is being held at a crucial time for energy markets.
Following the meeting, he told reporters that the declaration was approved by the ministerial meeting and will be announced at the Monday summit of the GECF.
The GECF was established in 2001 in Tehran and is a venue for a number of world’s gas exporting countries to exchange information about concerned topics.
In a statement release by the senior special adviser to the president, Femi Adesina, Buhari will hold bilateral talks with other leaders on how to move gas export forward and will meet with Nigerians living in the host country before he returns to the country.
GECF is a gathering of the world’s leading gas producers and was set up as global governmental organization with the objective to increase the level of coordination and strengthen the collaboration among the member countries.
The Netherlands, Kazakhstan, Iraq, Norway and Oman will also take part in the forum’s summit as observer members. “If Iran is looking to boost revenues dramatically from oil sales, it will be disappointed”, he said, adding that Iran’s future is more gas than oil. It is considering to build a large pipeline network that would connect its huge South Pars gas field with European customers.
He also said OPEC needed to manage the return of Iranian oil production within its current ceiling.
“Buying the oil refineries or their shares overseas is the policy of Iran after the lifting of sanctions”, said Abbas Kazemi, head of the National Iranian Oil Refining and Distribution Company.
Before 2012, when western sanctions were intensified on Iran, the country’s crude exports stood at 3.7 million bpd.
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