Energy giants voice deep concern over Israel deliberate attacks on Iran

Issuing a final statement at the end of its 26th ministerial meeting in Tehran on Sunday, the GECF said it is deeply concerned over acts of deliberate attacks against Iran and added that such tensions affect vital supply chains, exacerbate energy poverty, and heighten market volatility.

Iran is a key member of the GECF as it sits on the world’s second-largest natural gas reserves and is the world’s third-largest gas producer.

Iran’s Oil Minister Mohsen Paknejad, who chaired GECF’s ministerial meeting, said that his country plays a major role in global energy security through its continued efforts to develop gas export infrastructures.

Paknejad said Iran had expanded its key gas resources, including the South Pars gas field in the Persian Gulf, which is the world’s largest gas field, despite oppressive sanctions imposed by the United States.

In its final statement in the Tehran meeting, the GECF reiterated its commitment to cooperate with other global energy stakeholders and the United Nations agencies to create a more balanced approach in dealing with international energy issues.

The statement highlighted the pivotal role of natural gas in economic development, social progress, and environment protection.

It said stronger multilateral collaboration can “ensure a balanced and inclusive approach to global energy governance,” and can address “challenges related to energy security, affordability, and environmental sustainability.”

The GECF was established in the late 2010s upon an idea raised by Iran earlier that decade. The Forum currently has 11 members and 8 observers.