Iran (IMNA) - Oil Minister Mohsen Paknejad announced on Sunday that GECF member states had responded positively to Iran’s proposal to reshape the group into a powerful alliance similar to the Organization of the Petroleum Exporting Countries (OPEC). His remarks followed a ministerial meeting of the GECF in Doha, Qatar.
Iran’s push seeks to strengthen cooperation among gas-exporting nations to counter what it described as political pressures from major energy consumers, particularly European countries. The report noted that while Iran and Russia together hold over 40 percent of the world’s natural gas reserves, their influence on global supply and pricing remains limited in key markets.
“Both Iran and Russia have realized that continued passivity in the global market means conceding power to consumers,” the report said.
Founded in late 2008, the GECF brings together 20 member countries controlling more than 70 percent of the planet’s proven gas reserves and about 45 percent of global gas production.
Iran currently supplies natural gas to neighboring Iraq and Turkey, but sanctions have restricted its capacity to expand exports. Russia has also faced significant reductions in gas sales to Europe following its conflict with Ukraine in 2022.
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