📌 Key Points (Summary):
- Addressing a meeting of heads of state and government during the Eighth Summit of the Gas Exporting Countries Forum (GECF) at the World Trade Center in Moscow, according to Xinhua News.
- Putin warned that any attempt to exclude Russia from the global gas market or hinder the development of its gas industry would have serious consequences and other countries The costs of gas users should increase.
- He said that the increase in tension in the Middle East.
The Urdu Post (Monitoring Desk): Moscow: Russian President Vladimir Putin has urged natural gas exporting countries to strengthen cooperation to maintain stability in the global market.
According to Xinhua News, while addressing a meeting of heads of state and government during the eighth summit of the Gas Exporting Countries Forum (GECF) at the World Trade Center in Moscow, Putin said that natural gas accounts for about a quarter of global energy consumption, while the current By the middle of the century, its annual demand worldwide is expected to reach 5.5 trillion cubic meters.
Putin warned that any attempt to exclude Russia from the global gas market or hinder the development of its gas industry would have serious consequences and increase costs for gas users in other countries.
He said that the increase in tension in the Middle East, disruptions in gas delivery routes and restrictions imposed by some countries on the purchase of gas equipment and technology have raised concerns about the long-term imbalance in the global gas market.
According to Putin, the GECF member countries together have about 70 percent of the world's natural gas reserves, while their share in global gas exports is about 40 percent.
He said that in order to deal with the challenges facing the global gas industry, exporters should deepen cooperation and promote open and trust-based partnerships based on mutual benefit and respect for each other's interests.
The Russian president also highlighted Russia's role in the global gas market. He said that Russia has the world's largest natural gas reserves and the second largest in terms of production.
It should be noted that the Forum of Gas Exporting Countries was established in 2001, while it was given the status of an official organization in December 2008. The purpose of the forum is to strengthen cooperation and dialogue between natural gas producing and exporting countries and to promote stability and energy security in the global gas market.
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