The dialogue between the participants of the Gas Exporting Countries Forum (GECF) is developing without behind-the-scenes intrigues and attempts to manipulate the market, Russian President Vladimir Putin said at the GECF summit. Initially, the forum was created as an expert and analytical platform for the exchange of experience, assessment and forecasting of the gas market. "This is exactly how our dialogue develops, without any intrigue behind the scenes or attempts to manipulate the market," emphasized the head of state. Russia ranks first in the world in natural gas reserves and second in production, Putin noted. "Russia is one of the main participants in the global gas market. We are in first place in the world in natural gas reserves and in second place in its production," he said. The state has created a unique production complex that allows diversifying the gas supply and developing gas processing and chemistry. The role of natural gas as the pillar of global energy, industry and the agro-industrial complex will only grow stronger, the president is sure. Last year gas consumption increased by 1.2% and reached 4.2 trillion cubic meters. from. By 2050, global gas demand will increase to 5.5 trillion cubic meters. m per year, and the international supply will increase approximately 1.5 times and amount to 1.7 trillion cubic meters. from. "Therefore, the role of natural gas as a pillar of the global energy, industry and agricultural sector, and the international trade system will only get stronger," Putin said. GECF participants account for 70% of the world's natural gas reserves and about 40% of global exports, the Russian leader said. He called the openness, clarity and objectivity of the forum's evaluations important for gas producers and consumers. Putin proposed to work on optimizing the transportation routes for gas supply, taking into account the geographical location of the countries participating in the GECF through mutual actions between them. He called the supply disruption the main problem: large amounts of supply fell off the market in a short period of time, while demand did not disappear.

The dialogue between the participants of the Gas Exporting Countries Forum (GECF) is developing without behind-the-scenes intrigues and attempts to manipulate the market, Russian President Vladimir Putin said at the GECF summit. Initially, the forum was created as an expert and analytical platform for the exchange of experience, assessment and forecasting of the gas market. "This is exactly how our dialogue develops, without any intrigue behind the scenes or attempts to manipulate the market," emphasized the head of state. Russia ranks first in the world in natural gas reserves and second in production, Putin noted. "Russia is one of the main participants in the global gas market. We are in first place in the world in natural gas reserves and in second place in its production," he said. The state has created a unique production complex that allows diversifying the gas supply and developing gas processing and chemistry. The role of natural gas as the pillar of global energy, industry and the agro-industrial complex will only grow stronger, the president is sure. Last year gas consumption increased by 1.2% and reached 4.2 trillion cubic meters. from. By 2050, global gas demand will increase to 5.5 trillion cubic meters. m per year, and the international supply will increase approximately 1.5 times and amount to 1.7 trillion cubic meters. from. "Therefore, the role of natural gas as a pillar of the global energy, industry and agricultural sector, and the international trade system will only get stronger," Putin said. GECF participants account for 70% of the world's natural gas reserves and about 40% of global exports, the Russian leader said. He called the openness, clarity and objectivity of the forum's evaluations important for gas producers and consumers. Putin proposed to work on optimizing the transportation routes for gas supply, taking into account the geographical location of the countries participating in the GECF through mutual actions between them. He called the supply disruption the main problem: large amounts of supply fell off the market in a short period of time, while demand did not disappear.