Addressing the 28th Ministerial Meeting of the Gas Exporting Countries Forum (GECF) in Moscow on Monday, Hamid Bovard said recent energy crises have demonstrated that energy security is not merely an economic or technical issue, but is inseparable from peace, regional stability, the security of critical infrastructure and respect for national sovereignty.
Bovard said global energy security cannot be achieved without safeguarding the security of energy producers, respecting their sovereignty, ensuring sustainable investment and strengthening international cooperation.
He called on GECF members to enhance coordination, improve their ability to respond to unexpected crises and update the forum’s long-term strategy to reflect changing geopolitical and technological conditions.
The Iranian official emphasized the continuing strategic importance of natural gas, citing GECF projections that global demand will rise by 31% to more than 5.4 trillion cubic meters by 2055, increasing gas’ share of the global energy mix from around 23% to 26%. He proposed that the forum consider a roadmap to raise natural gas’s share to 30%, based on long-term demand, investment requirements and environmental considerations.
Meeting future global gas demand through 2055 would require more than $12 trillion in investment across the upstream and midstream sectors, he added, urging member states to pursue joint financing mechanisms, expand technological cooperation and strengthen structured dialogue between producers and consumers to reduce investment risks and ensure stable demand.
Bovard noted that Iran, despite decades of sanctions and the consequences of imposed wars, has developed an annual natural gas production capacity of about 300 billion cubic meters, placing it among the world’s three largest gas producers.
He also expressed Iran’s readiness to share its technical and industrial expertise with GECF members and expand joint projects.