Buhari for gas exporting countries’ forum in Tehran

GECF Secretary General Mohammad-Hossein Adeli appreciated members’ activities and said the Tehran Gas Summit is being held at a crucial time for energy markets.

The ministry noted that the GECF’s third gas summit will be held soon, and Azerbaijan will be represented there by Minister of Energy Natig Aliyev.

Saudi Arabia, as the world’s top oil producer and OPEC’s de facto leader, since OPEC’s November meeting previous year has protected its oil market share at all costs by not decreasing production, throwing down the gauntlet, not only at what the Kingdom must truly despise (upstart US shale oil producers) but also punishing other OPEC members, especially Venezuela, who is on the verge of financial collapse since the more than halving of oil prices since mid-June 2014. Kazakhstan, Iraq, the Netherlands, Norway, Oman and Peru are Observer Members in the Forum.

“Iran is now considering the completion of its Liquefied Natural Gas (LNG) plants” which will elevate the country’s capacity of gas exports, he said. “It needs discussions and talks with Turkey and other countries to use gas pipes for its gas exports to Europe”. It is considering to build a large pipeline network that would connect its huge South Pars gas field with European customers. Iran said earlier today it planned to boost oil production by 1 million barrels a day.

“Increasing crude exports (in the global market) is Iran’s inalienable right and we do not need the permission of anybody or any organization in this regard”, Zangeneh said.

Under a deal reached with six major powers in July, Iran agreed to curb its nuclear programme in exchange for an end to economic sanctions imposed on the country in 2012 over the programme.