Long-term gas contracts, according to Russian Energy Minister Nikolai Chuljinov, are one way to draw capital to gas projects and operate as a safety net for supply, demand, and market stability.
The Russian Energy Minister stated in a speech at the Forum of Gas Exporting Countries currently taking place in Cairo that the global economy’s slowdown since last February, the shift to the green economy, the decline in investments in the global gas industry, the establishment of international gas trade, the imposition of sanctions on Russia after Iran and Venezuela, and also Europe’s abandonment of Russian gas have all contributed to the disruption of global stability.
The Russian minister stated that these actions will undermine the situation and have a detrimental influence on the economy, as well as having bad effects on consumers and producers.
The minister said that long-term gas contracts are one of the solutions to attract investments in gas projects and represent a protection network for supply and demand as well as the stability of the gas market. He also emphasised that the forum must remain impartial and aim to support infrastructure.
Cairo hosts the twenty -fourth ministerial meeting of the forum for gas exporting countries with the participation of energy ministers and heads of delegations from member states, which included Russia, Algeria, Bolivia, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Treenadad, Tobago and Venezuela, and from the observers, Angola, Azerbaijan, Iraq, Malaysia, Mozambique, Norway, Peru and the Emirates.
Author: RT.
from the gas forum in Egypt. The Russian Energy Minister confirms the importance of long -term gas contracts
Long-term gas contracts, according to Russian Energy Minister Nikolai Chuljinov, are one way to draw capital to gas projects and operate as a safety net for supply, demand, and market stability.
The Russian Energy Minister stated in a speech at the Forum of Gas Exporting Countries currently taking place in Cairo that the global economy’s slowdown since last February, the shift to the green economy, the decline in investments in the global gas industry, the establishment of international gas trade, the imposition of sanctions on Russia after Iran and Venezuela, and also Europe’s abandonment of Russian gas have all contributed to the disruption of global stability.
The Russian minister stated that these actions will undermine the situation and have a detrimental influence on the economy, as well as having bad effects on consumers and producers.
The minister said that long-term gas contracts are one of the solutions to attract investments in gas projects and represent a protection network for supply and demand as well as the stability of the gas market. He also emphasised that the forum must remain impartial and aim to support infrastructure.
Energy ministers and delegation heads from member states, including Russia, Algeria, Bolivia, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Treenadad, Tobago, and Venezuela, as well as Angola, Azerbaijan, Iraq, Malaysia, Mozambique, Norway, Peru, and the Emirates, attended the twenty-fourth ministerial meeting of the forum for gas exporting countries in Cairo.
Author: RT.
from the Egyptian gas forum. The Russian Energy Minister confirms the importance of long -term gas contracts
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