VENEZUELA PROPOSES THE FAIR VALUATION OF GAS IN THE INTERNATIONAL MARKET

By teadmin On Nov 22, 2020

Caracas:The Minister of the People’s Power for Petroleum, Tareck El Aissami, participates in the 22nd Ministerial Meeting of the Gas Exporting Countries Forum (GECF), which is held from the People’s Democratic Republic of Algeria, via videoconference.

“Venezuela proposes an urgent and fair valuation of this non-renewable resource, which allows the sustainability of investments and the best technologies for the production and use of gas,” wrote El Aissami through his Twitter account @Tareckpsuv, within the framework of the Ministerial Meeting.

“Venezuela promotes complementarity between different energy sources as a strategic factor for the development of peoples,” he highlighted as part of the proposals of Venezuela, as a member country of the Forum of Gas Exporting Countries.

In his speech at the 22nd Ministerial Meeting, the head of the oil portfolio explained that one of the great challenges that Venezuela has faced are the unilateral coercive measures imposed by the United States government against PDVSA, which have caused a decrease in gas production , affecting the town’s energy consumption and generating a negative impact on the economy.

“We denounce the aggression and permanent persecution of the United States through unilateral coercive measures against our oil and gas industry. We are free peoples and our resources are sovereign, “he wrote in another message on the Twitter network.

The 22nd Ministerial Meeting is chaired by Abdelmadjid Attar, Minister of Energy of the Algerian Democratic People’s Republic and host President of the 22nd Ministerial Meeting of the GECF, together with Yury Sentyurin, General Secretary of the GECF.

The Gas Exporting Countries Forum is made up of Algeria, Venezuela, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia and Trinidad and Tobago. As observer nations are Angola, Azerbaijan, Iraq, Kazakhstan, Malaysia, Norway, Oman, Peru and the United Arab Emirates.

This multilateral platform was established to support the sovereign rights of member countries over their natural gas resources and their ability to independently plan and manage the sustainable, efficient and environmentally conscious development, use and conservation of natural gas resources for the benefit of their towns.