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Shale revolution is a regional event, says GECF Secretary General

Мая 22, 2014

Influence of shale gas is limited and in coming years won’t have a significant impact on gas markets, thinks Seyed Mohammad Hossein Adeli, Secretary General of Gas Exporting Countries Forum (GECF).

«Shale revolution in US is a regional revolution», he said in Moscow addressing the MGIMO University students.

While speaking about China which has the biggest reserves of shale gas, Dr. Adeli said that its massive extraction is a «big question mark». «There are many challenges for China», he noted. Among them GECF Secretary General named lack of technologies, very high density of population, challenge to water reserves and agriculture, given that some of the reservoirs are located in the main agricultural centers.

Dr. Adeli also noted that shale gas is deposited in such a way that in the centuries it «will become conventional gas». «It’s like getting a fruit that is not ripe enough», he said.

The Gas Exporting Countries Forum (GECF) is an assembly of the world’s leading gas producers. The main target of cooperation between Member states is security of demand and supply. Russia highly values the involvement in the GECF which was established to coordinate the interaction of Member countries.
Forum was assigned the relevant legal status at the 7th GECF Ministerial Meeting on December 23, 2008, held in Moscow when energy ministers adopted the Statute and signed the Intergovernmental Agreement. The GECF official date of emergence is October 1, 2009, when the Agreement entered into force (after being ratified by 5 countries which signed it).
The Member countries of the Forum are: Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Oman, Qatar, Russia, Trinidad and Tobago, United Arab Emirates and Venezuela.
Kazakhstan, Iraq, the Netherlands and Norway have the status of Observer Members.

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