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Gas Exporting Countries Forum – GECF

Definition

The Gas Exporting Countries Forum is an intergovernmental organization of 16 member states that 11 of the world's leading natural gas producers made up of Algeria, Bahrain, Belarus, Bolivia, Brunei Darussalam, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago Turkmenistan, and Venezuela. GECF members together control over 70% of the world's natural gas reserves, 38% of the pipeline trade and 85% of the liquefied natural gas production. The three largest reserve-holders in the GECFRussia, Iran and Qatartogether hold about 57% of global gas reserves.

Gas Exporting Countries Forum - GECF

What is 'Gas Exporting Countries Forum (GECF)'

An organization of the world's leading gas producers that was established in 2001 to represent and promote their mutual interest. GECF members collectively hold more than 70% of the world's natural gas reserves. As of 2010, the GECF has 11 regular members - Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad & Tobago and Venezuela. It also has three members with observer status - Kazakhstan, Netherlands and Norway.

Explaining 'Gas Exporting Countries Forum (GECF)'

Given that a number of GECF members also belong to OPEC, there has long been speculation about the organization becoming a "Gas OPEC." However, some observers believe that the fundamental differences in the two organizations, as well as the fact that crude oil and natural gas are very different commodities, may hinder the formation of GECF into a gas cartel along the lines of OPEC.


Further Reading


Determinants of oil price subsidies in oil and gas exporting countries
www.sciencedirect.com [PDF]
… From a normative perspective, fuel subsidies make no sense in oil and gas importing countries, but could be sensible in oil and gas exporting countries, because exports … revenues: writing each inhabitant a cheque equivalent to the individual share of the oil export revenues …

Commodities risk premia and regional integration in gas-exporting countriesCommodities risk premia and regional integration in gas-exporting countries
www.sciencedirect.com [PDF]
… From a normative perspective, fuel subsidies make no sense in oil and gas importing countries, but could be sensible in oil and gas exporting countries, because exports … revenues: writing each inhabitant a cheque equivalent to the individual share of the oil export revenues …

THE GAS EXPORTING COUNTRIES FORUM HAS NO CARTEL AMBITIONSTHE GAS EXPORTING COUNTRIES FORUM HAS NO CARTEL AMBITIONS
www.tandfonline.com [PDF]
… From a normative perspective, fuel subsidies make no sense in oil and gas importing countries, but could be sensible in oil and gas exporting countries, because exports … revenues: writing each inhabitant a cheque equivalent to the individual share of the oil export revenues …

The likelihood and potential implications of a natural gas cartelThe likelihood and potential implications of a natural gas cartel
www.elgaronline.com [PDF]
… From a normative perspective, fuel subsidies make no sense in oil and gas importing countries, but could be sensible in oil and gas exporting countries, because exports … revenues: writing each inhabitant a cheque equivalent to the individual share of the oil export revenues …

A dynamic spillover analysis of crude oil effects on the sovereign credit risk of exporting countriesA dynamic spillover analysis of crude oil effects on the sovereign credit risk of exporting countries
www.sciencedirect.com [PDF]
… From a normative perspective, fuel subsidies make no sense in oil and gas importing countries, but could be sensible in oil and gas exporting countries, because exports … revenues: writing each inhabitant a cheque equivalent to the individual share of the oil export revenues …

Performance Measure on Factors Influencing Production Capacity in the Natural Gas Industry with Comparison to Gas Exporting Countries <span style=[GEC]' src='/thumbnails/?img=http%3A%2F%2Fs-space.snu.ac.kr%2Fhandle%2F10371%2F119957' />Performance Measure on Factors Influencing Production Capacity in the Natural Gas Industry with Comparison to Gas Exporting Countries [GEC]
s-space.snu.ac.kr [[GEC]' href='https:/api.miniature.io/pdf?url=s-space.snu.ac.kr%2Fhandle%2F10371%2F119957'>PDF]
… From a normative perspective, fuel subsidies make no sense in oil and gas importing countries, but could be sensible in oil and gas exporting countries, because exports … revenues: writing each inhabitant a cheque equivalent to the individual share of the oil export revenues …

CO2 emissions, energy consumption, economic growth, and financial development in GCC countries: Dynamic simultaneous equation modelsCO2 emissions, energy consumption, economic growth, and financial development in GCC countries: Dynamic simultaneous equation models
www.sciencedirect.com [PDF]
… From a normative perspective, fuel subsidies make no sense in oil and gas importing countries, but could be sensible in oil and gas exporting countries, because exports … revenues: writing each inhabitant a cheque equivalent to the individual share of the oil export revenues …



Q&A About Gas Exporting Countries Forum – GECF


Who are the members of the GECF?

Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar Russia Trinidad and Tobago and Venezuela.

What is the GECF?

The Gas Exporting Countries Forum.

Where is OPEC located?

OPEC is located in Vienna Austria.

Why do some people think that forming a "Gas OPEC" will never happen even though both organizations include many of the same countries ?

Some people think that because they are fundamentally different types of commodities they should remain separate entities rather than being combined into one organization .

What does it mean to be a member of the GECF?

It means that you hold more than 7% of the world's natural gas reserves.

How many members does the GECF have?

11 regular members and three observers.

Is there speculation about whether or not OPEC will form a gas cartel along with other countries like Russia and Qatar?

Yes there has been speculation for years about this possibility but some believe that because natural gas is very different from crude oil that it may never happen.

Are there differences between crude oil and natural gas commodities that make it difficult to form a gas cartel along with other countries like Russia and Qatar?

Yes there are fundamental differences between crude oil and natural gas commodities including price volatility market structure production costs storage capacity transportation methods etc..