Azernews.Az

By Aynur Jafarova

Iran will host the third summit of the Gas Exporting Countries Forum (GECF), Iranian Oil Minister Rostam Qasemi said on Sunday.

The proposal to host the event was made by Qasemi at the GECF ministerial meeting in Moscow.

"The proposal was welcomed and unanimously accepted by the energy ministers attending the meeting," he said.

It was also reported that Iranian President Mahmoud Ahmadinejad left Tehran for Moscow to attend the second summit of GECF.

While in Russia Ahmadinejad plans to deliver a speech during the two-day event, to hold talks with his Russian counterpart Vladimir Putin on international issues, to discuss global natural gas production and prices, to meet with world leaders, to receive Iranian nationals residing in this country and participate in a live TV program.

Furthermore, he will meet and hold talks with Iraqi Prime Minister Nouri al-Maleki and Bolivian President Evo Morales.

Speaking to reporters before leaving for Moscow, Ahmadinejad described the establishment of the GECF as a great initiative in which Iran played a major role.

The president added that coordination of natural gas prices and production levels, various forms of marketing the product in the world and managing gas resources in member countries are among the topics on the agenda of the summit, scheduled for July 1-2.

The Iranian president also stressed the role of energy as quite significant in global economic exchanges and thus political interactions, saying that fossil energy is regarded as more sensitive and of higher importance than other forms of energy.

He added that the main form of energy currently consumed in the world is fossil fuels whose rate of production and prices as well as supply and demand have played a determining role in global economic and political relations.

Ahmadinejad also said that the establishment of GECF is the result of discussions and good cooperation between Iran, Russia and a number of other countries for better coordination of global gas production.

The president is being accompanied on the trip by Iran's foreign and economy ministers as well as several presidential aides.

The GECF summit is to review the current situation of gas industry and the world economic situation.

GECF is an intergovernmental organization of 11 of the world's leading natural gas producers made up of Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago and Venezuela. It was established in Tehran in 2001.

Kazakhstan, Iraq, the Netherlands and Norway enjoy the GECF observer status.

GECF members together control over 70 percent of the world's natural gas reserves, 38 percent of the pipeline trade and 85 percent of the liquefied natural gas production.

The three largest reserve-holders in the GECF - Russia, Iran and Qatar - together hold about 57 percent of global gas reserves.