The forum on natural gas, expected to take place during the second half of 2022, will focus on the global economic recovery after the shock caused by the COVID-19 pandemic, and the sharp rise in natural gas prices in 2021. Ministers will also take stock of global climate and energy issues in the aftermath of the COP26 UN climate conference, due to be held in November 2021, IEF said in a statement.
Natural gas has contributed to a drop in greenhouse gas emissions from the energy sector in Europe and the wider Organisation for Economic Cooperation and Development (OECD) over recent decades, while ensuring affordable and secure access to energy. It remains the transition fuel of choice in non-OECD growth economies, where reducing emissions from coal is a priority. The move to gas has also been highly positive in terms of enhanced air quality, reducing pollutants that cause respiratory diseases, driving a verifiable improvement in public health, the statement noted.
Egypt has emerged as a key player in the global energy space. It is hosting the most recently established Gas Forum in East Med region (EMGF) which is creating opportunities for further cooperation and collaboration in the gas scene for the benefit of the whole region.
The IEF is the world’s largest energy organization with 71 member countries accounting for 90 percent of the world energy market. It was established three decades ago as a neutral platform for intergovernmental dialogue between major energy producers and consumers.
The IGU brings together all major natural gas producing countries. It encourages international trade in gas by supporting non-discriminatory policies and sound contracting principles and promoting development of technologies which add to the environmental benefits of natural gas.
The previous forum took place in Malaysia in December 2020. Delegates assessed the impact of the pandemic and discussed gas market prospects.