Wed. Jan 22nd, 2020

President Buhari set to Attend Gas Summit in Equatorial Guinea

President Muhammadu Buhari is reportedly set to depart Nigeria to Malabo, Equatorial Guinea on Friday to attend the 5th edition of the Gas Exporting Countries Forum (GECF) Summit.

The last time the president attended this summit was the 3rd edition in Tehran in November 2015.

The idea of the GECF was first mooted in 2001 when the First Ministerial Meeting held in Tehran, Iran, while the First GECF otherwise called Gas Summit, took place in Doha, Qatar in 2011 with Nigeria represented at the highest level.

The GECF would among others, seek 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 people.”

Apart from the Nigeria leader, other large Gas producing countries leaders will be at the event. Other countries to be present includes; Algeria, Egypt, Equatorial Guinea, Libya, Bolivia, Iran, Qatar, Russia, Trinidad and Tobago, United Arab Emirates, Venezuela, Kazakhstan and Norway.

Reports have it that these countries account for 70 to 80 per cent of global gas reserves and production respectively.

The event is a one day event.

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