The Gas Exporting Countries Forum (GECF) and the Organization of the Petroleum Exporting Countries (OPEC) recently conducted the Fourth High-Level Meeting of the GECF-OPEC Energy Dialogue. The meeting took place at the GECF headquarters in Doha, the State of Qatar, and was co-chaired by HE Eng. Mohamed Hamel, Secretary General for GECF, and HE Haitham Al Ghais, Secretary General for OPEC.
In his opening remarks, HE Eng. Hamel highlighted the collaborative efforts since the previous high-level meeting in Vienna on October 10, 2022. He emphasized the importance of working together to address challenges in the evolving energy landscape and capitalize on upcoming opportunities. “It is of the utmost interest that the GECF and OPEC work hand in hand to face the challenges of the evolving energy landscape and seize the opportunities that lie ahead. We need to leverage our resources and expand our reach,” stated HE Eng. Hamel.
HE Haitham Al Ghais affirmed OPEC’s unwavering commitment to collaboration with GECF, describing it as a high priority within the framework of ongoing global energy dialogues. He stressed the significance of open and transparent dialogue with industry partners, recognizing it as a mutually beneficial approach in navigating the complexities of rapidly changing energy markets.
The meeting underscored the pivotal role of oil and natural gas in economic development and energy security, noting that they currently constitute 55% of the energy mix and will maintain a majority share for decades. The leaders emphasized the essential contribution of oil and gas to meeting the UN Sustainable Development Goals, particularly SDG 7, ensuring affordable, reliable, sustainable, and modern energy for all. Achieving this goal requires increased investment in both oil and natural gas.
Congratulating the United Arab Emirates, an OPEC and GECF member country, for hosting COP 28, the leaders acknowledged the industry’s constructive and critical role in sustainable development and poverty eradication. They highlighted the importance of continuing investments in oil and natural gas to meet future demand and ensure global market stability.
HE Al Ghais emphasized the need for both organizations to collaborate with key industry stakeholders to promote investment-friendly policies. He underscored the importance of maintaining a balanced narrative on energy transitions and correcting any misguided messages related to hydrocarbon fuels and the industry.
The meeting concluded by highlighting the significance of data accuracy, transparency, and knowledge exchange. Both organizations committed to ongoing technical cooperation in these areas. The Fifth High-Level Meeting of the GECF-OPEC Energy Dialogue is scheduled for the second half of 2024.