Putin Stresses Gas Exporters’ Cooperation for Global Energy Security
Vladimir Putin, President of Russia, emphasized the vital role of natural gas in the global economy and the importance of strengthening cooperation among member countries of the Gas Exporting Countries Forum (GECF) during its eighth summit held in Moscow. According to him, member countries of this forum hold close to 70 percent of the world’s natural gas reserves and account for about 40 percent of global gas exports.
Putin identified disruptions in gas supply as the biggest current challenge in the global market, noting that a significant portion of supply has been quickly withdrawn while demand remains steady. He also stressed the necessity of improving gas transportation routes and utilizing joint cooperation to better manage supply.
The Russian president warned that excluding Russia from the global gas market could lead to serious consequences and increased costs for other countries. He highlighted that GECF member countries play a crucial role in ensuring energy security and promoting balanced development.
