Gas
Exporting Countries Forum (GECF) secretary general Yury Sentyurin
participated in the virtual G20 Energy Ministerial Meeting and
“reaffirmed its commitment to greater international co-operation in
ensuring the resilience of energy systems and affordable and secure
energy for all.”
The two-day deliberations acknowledged the
unprecedented impact that the Covid-19 pandemic has had on energy
markets and paved the ways for the sector’s recovery efforts. The
meeting assumed vital importance against the backdrop of a global
pandemic and was devoted to the energy market stability amidst low oil
and gas prices and lacklustre demand.
The final communique
crystallised the resolve of the G20 countries to utilise the widest
variety of technologies and fuels to ensure a stable and uninterrupted
supply of energy for economic growth. As per decision of the G20
members, the GECF has become a part of the dialogue and was directly
referred to in the final Communique.
It noted that in order to
enhance energy security, “The role of open, flexible, transparent,
competitive, stable and reliable energy markets, as well as stable,
predictable, necessary, fair, and non-discriminatory, regulatory
frameworks in promoting market stability and investments”.
On this
note, the GECF, alongside IEA, IEF, IRENA, Opec, among others, was
invited to further consider this matter in their respective work
programmes. In the context of circular economy for cleaner and more
sustainable energy systems, the communique highlights the crucial role
of the GECF and other relevant international organisations in promoting
public and private investments, innovative public as well as private
financing, policy enablers, and cross-sector collaborations.
GECF secretary general Yury Sentyurin participates in the virtual G20 Energy Ministerial Meeting.