Tehran to unveil new world gas model at GECF

TEHRAN, Oct. 28 (MNA) – Secretary general of GECF said new world gas model will be unveiled at the upcoming summit of the forum in Tehran in November.

Mohammad Hossein Adeli described the important programs of the ministerial meeting of the Gas Exporting Countries Forum (GECF) announcing that two essential documents will be examined during the third summit of GECF.

Adeli named the first document as the strategic policy document noting that, “the second document, which is a model created in the forum, will be the long-term outlook of the gas market and will be presented to the meeting.”

“The model, needed to foresee the global gas market in the medium and long-term periods, has been designed and completed over the past two years and marks one of the achievements of the GECF,” he asserted.

The official said models are generally complex and there is a scarcity of them in the world; “the few organizations possessing a model forecast the gas market on the basis of the scenarios and information given to the model and the results are announced to the world,” he added.

Adeli underlined that world’s organizations take advantage of these models’ outcomes to predict the future gas market and said: “we will present an outlook to the upcoming summit in Tehran which has been prepared by our newly-developed model.”

Emphasizing that the new model will cover all aspects of gas market including economic growth, demand, supply, trade, price, storage, transport and contract, he asserted, “accordingly, we have added many countries’ gas information to the model and the resulting outlook will be presented to all member states.”

The third summit of GECF will be held in Tehran in November while the nuclear agreement between Iran and the 5+1 group of countries has provided the possibility of a new round of gas partnership between Iran and the world.

Meanwhile, several heads of countries are expected to visit Tehran to attend the summit including Russia’s President Vladimir Putin, Venezuela’s President Nicolas Maduro, the President of UAE Sheikh Khalifa bin Zayed, the Iraqi President Fuad Masum, the President of Algeria Abdelaziz Bouteflika, the Emir of Qatar Hamad bin Khalifa Al Thani, Sultan Qaboos of Oman and senior officials of other gas producing countries.

 

HA/2951669

 

News Code 111439

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