Arkab stresses the strengthening of cooperation to ensure the stability of global energy markets – Algerian Dialogue

The Minister of Energy and Mines, Mohamed Arkab, participated today, Tuesday, in the capital of Equatorial Guinea, Malabo, in the twenty-fifth ministerial meeting of the Gas Exporting Countries Forum, in the presence of the President and Director General of Sonatrach, and executives from the Ministry and Sonatrach.

The opening was held by the Prime Minister of the Government of Equatorial Guinea, Manuela Roca Botti, and the Minister of Minerals and Hydrocarbons of the Republic of Equatorial Guinea, Antonio Uboro Ondo, Chairman of the Ministerial Meeting of the Gas Exporting Countries Forum for the year 2023, as well as the Secretary-General of the Gas Exporting Countries Forum, Mohamed Hamal, and the Secretary-General of the Organization. African oil-producing countries, and the participation of ministers and representatives of delegations of member states in the Gas Exporting Countries Forum.

In a speech he delivered on this occasion, the Minister of Energy and Mines pointed out that “the member states of the Gas Exporting Countries Forum have a great responsibility in providing the energy resources necessary for a constantly changing world, and their contribution to the global economy is countless, and it is also coupled with a duty towards our peoples and towards the world as a whole.” Energy is the engine of economic growth, technological progress, and a factor in creating jobs and improving the standard of living. Their countries’ resources have the power to change lives, transform societies, and enhance the well-being of their citizens. But with this ability, we have a great responsibility, which is how to manage our energy resources in a sustainable way, taking into account limiting climate change.”

Regarding the global gas industry, the minister stressed that “we will have to set an example in terms of sustainable development.” This means investing in clean technologies, increasing the efficiency of energy infrastructure, and reducing greenhouse gas emissions. We also have a responsibility to enhance the resilience of our export chains and reduce vulnerability to fluctuating natural gas prices. One of the key challenges we will address is the transition towards a global economy based on cleaner energy sources. This represents a challenge and an opportunity at the same time. “By investing in natural gas resources as a clean energy source and in other clean technologies, we will continue to play a central role in the global energy future.”

The Minister took this opportunity to salute “the work performed by Mohammed Hammal, Secretary-General of the Gas Exporting Countries Forum, who worked tirelessly, within the framework of our common mission. His Excellency’s remarkable achievements deserve all praise and appreciation.” Since assuming this position, he has led the General Secretariat of the Gas Exporting Countries Forum, with a clear vision and great determination. Under his leadership, we have seen a positive transformation in our organization, with significant advancement in the position of natural gas as a clean and sustainable energy source. His remarkable efforts also contributed to strengthening cooperation between member states and between regional and international organizations, to confront the complex challenges we face, which increased the clarity of the vision of the Gas Exporting Countries Forum on the global energy scene. Muhammad Hamal also played an important role in defining strategic goals and priorities. Within the framework of a long-term strategy for our forum. His Excellency contributed to forecasting emerging trends in the energy sector in general, and in natural gas in particular, by encouraging research and technological innovation, through priority projects identified for the Gas Research Institute, which is based in Algeria.

Regarding the ongoing preparations for the seventh summit of heads of state and government of the Gas Exporting Countries Forum, which is scheduled to be held in Algeria in 2024, the minister stressed that “within a few months, Algeria will host the seventh summit of leaders of states and heads of government of the Gas Exporting Countries Forum, which will be held in March 2024 in Algeria. Activities related to this event will be held over a period of three days. This historic event is of great importance to our organization, and I assure you that the highest authorities in our country are fully committed to ensuring its success. Over the course of several months, the Algerian government worked seriously, under the supervision and guidance of Mr. Abdelmadjid Tebboune, President of the People’s Democratic Republic of Algeria, to make this summit an unforgettable occasion, during which the leaders of the Gas Exporting Countries Forum countries and the guests of Algeria could meet to discuss issues. Most urgent. We are determined to make this event a successful example in terms of organization, as preparations are proceeding at a rapid pace and our dedicated teams are working to ensure and take into account all the details and ensure the readiness of our facilities, to receive leaders of the forum countries, heads of government and guests, and to ensure the facilitation of discussions and making critical decisions during this summit.

The Minister of Energy and Mines concluded his speech, “by emphasizing the strengthening of cooperation with international partners, to ensure the stability of global energy markets.” Cooperation and dialogue are essential to resolve potential discrepancies with regard to energy in general, and natural gas in particular, and to ensure the provision of reliable and affordable energy supplies throughout the world. He also stressed the endeavor to ensure that the benefits of our industry return to all our peoples. We will also seek to play a major role in directing necessary financial resources to support basic energy projects to combat energy poverty in the world, which will contribute to reducing differences in the energy field and improving the lives of millions of people for a better and more just world.”