The Minister of People’s Power for Petroleum and president of Petróleos de Venezuela, S.A. (PDVSA) Manuel Quevedo, arrived on Wednesday in Port of Spain, the capital of Trinidad and Tobago, to participate in the 20th Ministerial Meeting of the Forum of Gas Exporting Countries (FGEC), an organization of which Venezuela is part.
It is noteworthy that Venezuela occupies the eighth place with the largest gas reserves worldwide with 201.6 trillion cubic feet (TCF) and the first place in Latin America.
It is expected that at this 20th Ministerial Meeting of the Forum of Gas Exporting Countries, the attending ministers will address issues such as current and future trends in energy and the role of gas within these.
Likewise, the agenda refers to the expansion of membership to other countries that export this energy source.
What is the Forum of Gas Exporting Countries (FGEC)?
The FGEC is an international governmental organization for the exchange of experiences and information among the main gas producing countries, in order to guarantee energy security, placing special emphasis on the stability of the supply of natural gas, through the promotion of its consumption and market mechanisms.
This organization that groups more than 70 percent of the gas reserves in the world is made up of 12 countries; Algeria, Bolivia, Egypt, United Arab Emirates, Iran, Libya, Nigeria, Qatar, Equatorial Guinea, Russia, Trinidad and Tobago, and Venezuela, while Azerbaijan, Holland, Iraq, Kazakhstan, Norway, Oman and Peru participate as observers.
The 19th Ministerial Meeting of the FGEC was held on October 4, 2017 in Moscow, capital of the Russian Federation.
During this meeting, the Ministers of the member countries reviewed the short-term gas market report, its perspectives, developments, opportunities and market challenges.
They also discussed the Secretariat’s report on the cooperation of member countries and the exchange of information on market developments and commercialization, as well as environmental issues.
The Ministers reiterated the importance of cooperation among member countries, as a central value of the Forum, to continue stabilizing the gas market and increase participation in the energy mix based on the principles of the statutes of this body.
They also reviewed and decided to create the Gas Research Institute in Algeria.
Was also appointed Yuri Sentyurin as Secretary General of the FGEC for a period of two years, which began in January 2018.
With the participation of the Bolivarian Republic of Venezuela in these energy integration and cooperation initiatives, the Fatherland of Bolívar and Chávez continues to strengthen ties of brotherhood with the countries of the world.
