Iran’s Oil Minister Bijan Zangeneh presided the meeting that was held prior to the GECF summit which will open on Monday.
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“That will convey the GECF’s message to the upcoming 2015 COP21, also known as the 2015 Paris Climate Conference”, Zangeneh said.
They are also expected to discuss strategies for boosting gas production during the meeting.
In addition to the heads of states and governments from 17 permanent and observer countries and guests, the general secretaries of the Organization of Petroleum Exporting Countries (OPEC) and global Energy Forum (IEF) have confirmed their participation in the third summit meeting.
The President’s Special Adviser on Media and Publicity, Mr Femi Adesina, said Buhari and the leaders of Iran, Russia, Qatar, the Netherlands, Venezuela, Oman, Algeria, the United Arab Emirates, Bolivia and other member-countries of the GECF will review the current market outlook on gas at the forum.
The GECF is the gathering of the world’s leading gas producers to provide a framework for the exchange of experience, views, information and data, as well as coordination in gas related developments among Member Countries.
Asked about Iran’s plan to export gas to Europe, he said that “Iran’s gas exports to European countries need time”. Last year the country produced 172 billion cubic meters (bcm) of gas and intends to more than double production to 365 bcm in two years.
Crude futures have already lost around 60 per cent of their value since mid-2014 as supply exceeds demand by roughly 0.7 million to 2.5 million barrels per day to create a glut that analysts say will last well into 2016.
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Iran and major world powers reached an agreement on the former’s disputed nuclear program on July 14, under which Iran would curb its nuclear program to a significant degree in return for sanction relief on its energy and financial sectors.
