The Forum of Gas Exporting Countries (GECF) began work on Sunday in Doha before a summit on Tuesday with its leaders to examine ways to increase production, in the midst of a crisis between Russia and Ukraine.
Westerners fear a major attack by Moscow against Ukraine, a situation that raises fears for their supply of Russian gas and which has contributed to soaring gas prices.
The GEPF brings together 11 member countries, namely Qatar, Russia, Iran, Algeria, Bolivia, Egypt, Equatorial Guinea, Libya, Nigeria, Trinidad and Tobago and Venezuela, which represent more than 70% of the world’s gas reserves.
According to diplomats who helped prepare for the summit, the discussions will revolve around possible ways to increase production in the medium term.
Ahead of the summit on Tuesday, the organization is holding two days of ministerial-level meetings on Sunday and Monday, according to the schedule released by organizers. They take place behind closed doors, and no information had filtered Sunday.
The organizers did not say whether President Vladimir Putin would attend the meeting. On the other hand, according to the official Iranian press, the Iranian president, Ebrahim Raisi, will visit Doha on Monday.
There he will meet the Emir of Qatar, Sheikh Tamim bin Hamad al-Thani, and sign economic agreements and memorandums of understanding before attending the summit on Tuesday, according to the same source.
Qatar also has converging interests with Iran in the gas sector and supported talks in Vienna to save the deal on Tehran’s nuclear program. A press conference is scheduled for Tuesday afternoon.
On February 16, senior European Union (EU) officials urged Russia to “take concrete and tangible steps” showing a de-escalation of tensions around Ukraine, while ensuring that they were not afraid that Moscow would turn off the tap gas exports.
European Commission President Ursula von der Leyen has warned Russia that the EU is able to do without Russian gas this winter if Moscow decides to reduce or stop deliveries.
The members of the FPEG will certainly reaffirm to Europe that they cannot commit to orders without long-term contracts, indicated a few days before the summit Thierry Bros, professor at Sciences Po Paris.
Because to supply Europe with gas, producing countries must make significant investments in order to increase their production. However, the European Union is reluctant to conclude contracts of 10, 15 or 20 years.