Latest news with #GECF
Zawya
13-05-2025
- Business
- Zawya
Gas Exporting Countries Forum (GECF) Secretary General to Highlight Strategic Role of Gas in Africa's Energy Future at African Energy Week (AEW) 2025
African Energy Week (AEW) 2025: Invest in African Energies – taking place in Cape Town on September 29-October 3 – welcomes Mohamed Hamel, Secretary General of the Gas Exporting Countries Forum (GECF), to its growing lineup of global energy leaders. Representing the world's leading gas-exporting nations, the GECF brings a multilateral perspective to critical discussions on Africa's natural gas potential, energy security and investment opportunities. As natural gas continues to emerge as a cornerstone of Africa's development agenda – driving industrialization, electrification and economic growth – the GECF is playing a pivotal role in shaping the continent's position in the global energy landscape. African nations are increasingly seen as key players in the global gas market, with expanding LNG projects and diversified energy sources poised to strengthen Africa's energy security and economic resilience. At the forefront of this shift, the GECF advocates for increased investment and strategic cooperation to unlock Africa's substantial gas potential, with a focus on monetizing resources responsibly and aligning gas development with the continent's broader energy transition goals. Africa's gas markets are experiencing rapid growth: Algeria, holding the world's 10th largest gas reserves, is expanding infrastructure to increase gas exports to Europe, targeting 200 billion cubic meters over the next five years. The Republic of Congo is emerging as a regional hub, with the offshore Marine XII gas concession and new LNG export terminals currently under development. Meanwhile, Nigeria – Africa's largest gas producer – holds over 200 trillion cubic feet of reserves and is increasing LNG production through the NLNG Train 7 expansion, which will boost output by 35%. These nations are at the forefront of transforming Africa into a leading global gas supplier, driving economic growth and energy security across the continent. While Africa is home to an estimated 620 trillion cubic feet of proven gas reserves, a significant portion remains underdeveloped due to infrastructure, financing and regulatory hurdles. Secretary General Hamel is expected to address how regional and international investment can be mobilized to accelerate project development across the value chain, from upstream exploration to midstream infrastructure and downstream utilization. He will also speak to the GECF's vision for long-term cooperation, technological advancement and equitable resource monetization across its African member and observer states. "Africa is on the brink of a transformative shift in its energy landscape, with natural gas poised to play a central role in powering the continent's future. Through collaboration, innovation and strategic investment, we can unlock Africa's vast gas potential to drive industrialization, enhance energy security and foster sustainable economic growth. The GECF is committed to supporting these efforts, and AEW 2025 provides a platform to accelerate progress and forge the necessary partnerships,' states NJ Ayuk, Executive Chairman of the African Energy Chamber. The participation of the GECF underscores AEW's status as the leading platform for policy-driven, investment-focused dialogue. Secretary General Hamel's insights will add depth to conversations around Africa's energy transition, highlighting gas as both a transition fuel and a long-term asset in achieving climate-resilient growth. By convening key decision-makers, investors and energy innovators, AEW 2025 serves as the ideal forum to advance partnerships, unlock capital and chart a sustainable and inclusive energy future for Africa – one in which gas plays a defining role. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event. Distributed by APO Group on behalf of African Energy Chamber.
Daily News Egypt
12-05-2025
- Business
- Daily News Egypt
Egypt, Qatar explore deepened energy ties, joint investment opportunities
Egypt's Minister of Petroleum and Mineral Resources, Kareem Badawi, visited Doha this week at the official invitation of Qatari Minister of State for Energy Affairs, Saad Sherida Al-Kaabi, to explore avenues for expanding energy cooperation and joint investments between the two nations. The visit aligns with Egypt's broader strategy to strengthen energy security, particularly in meeting domestic demand for petroleum products and natural gas during peak consumption periods such as the summer. The Egyptian Ministry is pursuing a dual-track approach: ramping up domestic production through increased exploration and drilling, while leveraging the country's strategic geographic location to foster regional collaboration and infrastructure optimization. During high-level meetings in Doha, Badawi and Al-Kaabi discussed accelerating the launch of joint natural gas projects and finalizing long-term supply agreements to support Egypt's local energy needs. They also examined opportunities to integrate energy infrastructure between the two nations, capitalizing on their combined capabilities in liquefied natural gas (LNG) production, liquefaction, and regasification. Talks further focused on strengthening collaboration in upstream activities, particularly in Qatari-operated concession areas in Egypt. QatarEnergy—an active participant in Egypt's Upstream Gateway (EUG)—is already involved in several offshore Mediterranean projects alongside ExxonMobil, including the Nefertari, Cairo, Masry, and North Marakia wells. Al-Kaabi reaffirmed QatarEnergy's interest in expanding its footprint in Egypt's energy sector. This commitment was recently demonstrated through an agreement with EGAS and Chevron, granting QatarEnergy a stake in the North Dabaa offshore concession. Minister Badawi presented a range of investment opportunities in Egypt's oil, gas, and petrochemical industries, encouraging Qatari entities to explore value-added ventures. He also proposed expanding the role of Egyptian companies in Qatar's energy sector, especially firms with expertise in engineering, project execution, operations, and maintenance. Both sides expressed interest in facilitating Egyptian participation in Qatar's infrastructure, hydrocarbons, and renewable energy projects. The ministers also reviewed prospects for broader regional cooperation within the framework of the Gas Exporting Countries Forum (GECF), where both Egypt and Qatar are key members. Discussions emphasized the importance of aligning policy positions and leveraging GECF membership to support national and regional energy objectives. Headquartered in Doha, the GECF represents a powerful bloc in the global gas market, with member states collectively holding about 70% of the world's proven natural gas reserves.
Zawya
05-05-2025
- Business
- Zawya
Led by Qatar, GECF accounts for 47% of LNG cargo exports so far in 2025
Qatar - Led mainly by Qatar, GECF member countries accounted for 47% of cargoes exported in 2025 thus far, the forum said in its latest monthly report. Led mainly by Qatar, GECF member countries accounted for 47% of cargoes exported in 2025 thus far, the forum said in its latest monthly report. In March, some 577 LNG cargoes were exported globally, Gas Exporting Countries Forum said in its Monthly Gas Market Report. This represents an increase of 19 shipments compared to a year ago, GECF noted. Moreover, the number of shipments rebounded in March 2025, by 14% when compared with the total in the previous month. After the first quarter of 2025, total export cargoes reached 1,641, which was similar to the level reached during the same period in 2024. For the January to March period, the US exported some 39 more cargoes than in 2024, followed by Indonesia with 14. According to GECF, there was a slight uptick in the level of spot charter rates, although the shipping market remains depressed. In March this year, the monthly average spot charter rate for steam turbine LNG carriers climbed by 40% m-o-m to reach $700 per day. In March 2025, the average price of shipping fuels decreased by 4% m-o-m, to reach $520 per tonne. Compared with one year ago, this average price was 16% lower y-o-y, and was also 6% lower than the five-year average price for that month. In March 2025, the LNG spot shipping costs for steam turbine carriers decreased further, by up to $0.11/MMBtu on certain routes. This was driven by the small uptick in the average LNG carrier spot charter rate, which was outweighed by the impact of the decreases in the delivered spot LNG prices and the cost of shipping fuels, when compared with the previous month. Compared to one year ago, in March 2025, the monthly average spot charter rate and cost of shipping fuels were both lower, while the delivered spot LNG prices were higher. As a result, LNG shipping costs were up to $0.48/MMBtu lower than in March 2024. In March 2025, global LNG exports surged by 9.8% (3.50mn tonnes) y-o-y to reach a monthly record of 39.23mn tonnes, marking the highest annual growth rate since June 2021. The increase was supported by higher exports from both GECF and non-GECF countries, along with a rise in LNG re-exports. For the period Q1, 2025, global LNG exports rose by 3.9% (4.11mn tonnes) y-o-y, reaching 110.65mn tonnes driven primarily by higher exports from non-GECF countries. The share of non-GECF countries in global LNG exports edged up from 52.2% in March 2024 to 52.8% in March 2025. Likewise, the share of LNG re-exports increased from 0.4% to 1.2% over the same period, while the share of GECF Member Countries declined from 47.4% to 46%. The US, Qatar and Australia were the top three LNG exporters in March, GECF noted. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. ( Pratap John
Zawya
18-04-2025
- Business
- Zawya
Energy sector key driver of Qatari, Russian economic partnership
DOHA: The Amir H H Sheikh Tamim bin Hamad Al-Thani's official visit to the Russian Federation represents an important milestone in exploring new prospects for economic cooperation and strategic partnership between the two countries, experts emphasized. Speaking to the Qatar News Agency (QNA), they noted that the two countries' relations are based on a solid foundation of shared energy interests as well as a desire to diversify international partnerships and to play a greater role on the global stage, pointing out that the visit is expected to provide a strong impetus to bilateral cooperation between Qatar and the Russian Federation and to advance relations between the two countries towards broader horizons, especially in the energy sector, a key driver of the Qatari-Russian partnership in light of Qatar's investment in the Russian oil company Rosneft, one of Russia's largest energy companies. This visit falls within the framework of the growing relations between the State of Qatar and the Russian Federation, which began with the establishment of diplomatic relations in 1988. Since then, these ties have continued to grow, and flourish based on the principles of international law, mutual respect, and shared interests. They span numerous fields, particularly politics, economics, trade, culture, humanitarian, and other areas. H H the Amir's visit to the Russian Federation comes amidst a period of international transformation to reaffirm the strength of economic relations between Doha and Moscow and the two sides' commitment to consolidating strategic cooperation, particularly in the energy sector. The Amir H H Sheikh Tamim bin Hamad Al-Thani and President of the Russian Federation H E Vladimir Putin are expected to discuss ways to strengthen the economic partnership and develop cooperation in the energy sector, a fundamental pillar of relations between the two countries. Over the past years, Qatar and Russia have signed several agreements and memoranda of understanding to advance cooperation in the economic and energy sectors, Businessman Dr. Khalid bin Arhama Al Kuwari emphasized. The Doha-based Gas Exporting Countries Forum (GECF) stands out as a key framework for coordination between the two countries in the gas market. Both Qatar and Russia are founding and active members of the forum, he said. Officials from both countries repeatedly emphasize the importance of strengthening partnerships through the GECF to protect the interests of gas exporters in global markets, he said adding that Moscow also considers cooperation with Qatar within the forum 'essential to ensuring the legitimate interests of gas exporters in global markets.' © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. ( The Peninsula Newspaper
Zawya
18-03-2025
- Business
- Zawya
Qatar set to drive Mideast LNG exports; 27% region's share of global supply by 2050: GECF
Qatar - An LNG tanker passes boats along the coast of Singapore. LNG exports are projected to expand significantly over the next three decades, the HECF has said in its 'Global Gas Outlook 2050'. The Middle East region is expected to increase its LNG exports by approximately 106mn tonnes, accounting for 27% of the global LNG supply by 2050, GECF said and noted Qatar will mainly drive the region's gas exports during the forecast period. LNG exports are projected to expand significantly over the next three decades, the Gas Exporting Countries Forum has said in its 'Global Gas Outlook 2050'. The number of LNG-exporting countries is expected to rise from the current 22 to 27 by 2050, leading to a more diversified supply landscape, with North America emerging as the dominant LNG-exporting region by mid-century. The Middle East is set to follow closely behind North America, with its share of global LNG exports projected to reach 25% by 2050, compared to 24% in 2023. Qatar, already a leading LNG exporter, is expanding its liquefaction capacity through the North Field East and North Field South projects, while the UAE and Oman are ramping up production to meet growing global demand. These investments will further strengthen the Middle East's position as a key LNG supplier, particularly to Asia Pacific and Europe, reinforcing its strategic importance in the evolving global LNG market. Qatar aims to nearly double its LNG production capacity, increasing output by approximately 85% from the current 77Mtpy to 142Mtpy by 2030. This ambitious growth, led by the North Field Expansion project, will be implemented in three phases – through the North Field East (NFE), South (NFS), and West (NFW) expansion projects – and could contribute to a global oversupply later in the decade. 'This significant expansion will underpin Qatar's continued and sustainable economic growth, aligning with the Qatar National Vision 2030,' GECF said. GECF noted Qatar remains the dominant player in the Middle East's midstream gas sector. With the North Field East (NFE) and North Field South (NFS) expansion projects, Qatar is set to significantly increase its LNG export capacity by 65Mtpy, bringing the total to 142Mtpy by the early 2030s. The NFE project, valued at approximately $29bn is expected to commence operations by 2026, while the NFS project, estimated at over $14bn will follow shortly thereafter. In 2023, some 12 of the 20 LNG suppliers were GECF member countries, collectively supplying 193Mt of LNG and meeting 47% of global LNG demand. LNG trade is poised for significant growth among GECF member countries over the forecast period. This trend is driven by financial and technological advancements, making LNG more accessible to new consumers. As global natural gas demand increases, LNG is emerging as a strategic commodity, influencing the political and economic landscapes of gas-producing countries. Projections indicate that LNG exports from GECF member countries will reach approximately 445Mt by 2050, accounting for 56% of global LNG exports. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. ( Pratap John
