Introduction
The Gas Exporting Countries Forum (GECF) is an informally structured group of some of the worlds leading gas producers aimed at representing and promoting their mutual interests. Collectively the GECF controls 73% of the worlds gas reserves and 41% of production. This collective strength has lead to concerns by gas importers that the GECF has the potential to evolve into a gas version of OPEC.
Scope of this report
- The report includes an analysis of the key issues arising form each of the GECFs five annual ministerial meetings
- The collective strength and market control of the GECF is analysed in the context of its changing membership structure
- The differing and divergent agendas and motivations of individual GECF members are highlighted
Research and analysis highlights
Membership has fluctuated since the GECFs formation in 2001 and currently consists of Algeria, Bolivia, Brunei, Egypt, Indonesia, Iran, Libya, Malaysia, Nigeria, Norway (as an observer), Oman, Qatar, Russia, Trinidad & Tobago, the UAE and Venezuela. Together these countries account for 73% of global gas reserves and 41% of production.
Despite being united by a common role as gas producers, the GECF members have very different agendas. So far these differences have presented little problem other than occasionally diverging rhetoric, though potential exists for more significant and divisive differences of opinion if the GECF evolves into a more structured organisation.
Key reasons to read this report
- Gain an insight into the key issues arising from each GECF meeting
- Analyse the potential for the GECF to cartelise the global gas market
- Obtain an overview of the differing motivations and agendas of the GECF members
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