Context: As per the latest annual report of Gas Exporting Countries Forum (GECF), India will be the world’s largest growth market for natural gas in the next decade with China claiming the top spot till 2030.
About Gas Exporting Countries Forum (GECF)
- The GECF is an intergovernmental organisation that provides a framework for exchanging experience and information among its member countries.
- With its current number of member countries, the GECF enjoys a dominant position on global energy markets and among international energy organisations.
- Members
- Full Members: Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, UAE and Venezuela.
- Observers: Angola, Azerbaijan, Iraq, Malaysia, Mauritania, Mozambique, Peru and Senegal.
- Together, they represent 69% of the world’s gas reserves, 39% of the marketed production, and 40% of global gas exports.
- As the gathering of the world's leading gas exporting countries, the GECF seeks to build a mechanism for a meaningful dialogue between gas producers and consumers in order to improve the stability and security of supply and demand in gas markets around the world.