Iran Urges GECF to Prioritize Market Stability, Gas Trade

Iran Urges GECF to Prioritize Market Stability, Gas Trade
(Thursday, October 29, 2026) 19:44

MOSCOW, Oct. 27 (NIPNA) — Iranian President Masoud Pezeshkian called on the Gas Exporting Countries Forum (GECF) to prioritize energy market stability, expand regional and global natural gas trade, and increase joint investment across the gas value chain.

Speaking at the forum’s eighth summit in Moscow on Tuesday, Pezeshkian said member countries should deepen cooperation in two areas: strategic governance and management, and technical and engineering operations.

He said geopolitical developments had created serious challenges for global energy security, adding that military attacks on Iran’s energy facilities and disruptions to energy transfers threatened both energy security and the global economy.

Pezeshkian also criticized unilateral sanctions and what he described as US economic coercion against Iran, warning that such measures could further undermine stability in energy markets. He called on major energy suppliers to oppose these actions and respond effectively.

Military interventions in the Persian Gulf region, he said, were affecting more than regional actors by disrupting energy pricing, supply and transportation, with potential consequences for global economic growth.

Pezeshkian said the GECF had developed into a platform for gas diplomacy, dialogue and the exchange of experience among member countries over more than two decades. The forum could play a meaningful role in addressing global energy challenges, he added.

He urged members to advance the GECF’s founding principles and summit declarations, particularly through sustainable environmental management technologies, expansion of regional and global gas markets, greater value creation from natural gas and efforts to tackle energy poverty.

On strategic cooperation, Pezeshkian said the priority should be stabilizing markets and finding ways to increase natural gas trade. Technical cooperation should focus on joint investment across the gas value chain, from production and processing to transportation and consumption, alongside technologies that improve efficiency and reduce environmental impacts.

He said the forum needed to turn member countries’ existing capabilities into practical projects and shared benefits, while implementing its long-term strategy in line with changing market conditions and future supply-and-demand trends.

Pezeshkian said Iran, a founding GECF member and the world’s second-largest holder of proven natural gas reserves, was ready to play a more active role in multilateral gas diplomacy, knowledge-sharing and investment in gas infrastructure.

Iran’s strategic position along major global energy corridors and its existing gas industry capabilities could contribute to strengthening global energy resilience, he said. He also pointed to opportunities for private-sector cooperation among member countries in upstream and downstream gas operations and gas trading.

The president invited foreign investors to take advantage of incentives and facilities available in Iran’s oil, gas and petrochemical sectors, saying the country could offer opportunities for cooperation based on mutual interests.

He said natural gas accounts for around 70% of Iran’s energy mix and that about 95% of the country’s population is covered by the national gas network.

Pezeshkian added that constructive cooperation among member countries and observers, including energy ministers, the GECF secretary-general and the forum’s secretariat, was important to improving supply-and-demand security, ensuring fair valuation of natural gas and strengthening its role in the global energy mix while accounting for environmental considerations.

The GECF has 12 full members, which together account for about 70% of the world’s proven natural gas reserves, 38% of marketed gas production and 42% of global gas exports. They also represent an estimated 47% of global liquefied natural gas exports, according to the report.

 


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