Algeria will host the FPEG forum of gas exporting countries in February

Algeria will host the VII Summit of the Forum of Gas Exporting Countries (FPEG) with the participation of senior officials of Russia, Bolivia and Venezuela, among others, and marked by security and energy transition.

With more than 50,000 million cubic meters of gas exported annually and prospects for increasing these volumes, Algeria is committed to this forum to “shape the energy future as a global defender of natural gas” and “contribute to sustainable development and energy security”Energy Minister Mohamed Arkab told the official APS news agency this Sunday.

The objective is “support the sovereign rights of member countries over their resources” and contribute to inclusive and sustainable development”, he indicated.

Algeria, with significant reserves of natural gas and a production of about 100,000 million cubic meters per year, of which half is exported, is one of the largest sources of supply in the world and the leading exporter of Liquefied Natural Gas (LNG). from Africa.

Currently, it plans to develop its natural gas liquefaction activity to satisfy the strong demand of the global market and expand its shares in future contracts.

LNG production capacities have been consolidated with the entry into production of new liquefaction complexes providing a global production capacity of 56 million cubic meters per year.

During the summit, the headquarters of the Gas Research Institute (GRI) of the GECF, hosted and directed by Algeria, will be inaugurated.

“The GRI was created to facilitate technological cooperation and conduct research to advance technologies and knowledge in the natural gas industry, including training programs, knowledge exchange between countries and university partnerships”Arkab stressed.

The summit will also sign memorandums of understanding (MoU) between the GFEG and important international and regional organizations, the minister added.

The GFEG is an intergovernmental organization, whose member countries represent the 70% of the world’s proven gas reserves, more than 40% of the commercialized production, the 47% of gas pipeline exports and more than half of global LNG exports.

Full members are Algeria, Russia, United Arab Emirates, Bolivia, Venezuela, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar and Trinidad and Tobago; Angola, Azerbaijan, Iraq, Malaysia, Mauritania, Mozambique, Norway and Peru have observer status in the forum.

The VI EGPF summit took place in Doha in February 2022.