MOSCOW, October 27. /TASS/. Russian President Vladimir Putin will take part in the Eighth Gas Exporting Countries Forum (GECF) summit in Moscow.

The event is scheduled to begin at 12:45 p.m. Moscow time (9:45 a.m. GMT) at the International Trade Center. According to the Kremlin, the Russian leader will welcome the guests before a group photo. The plenary session, chaired by Putin, is set to begin at 1:00 p.m.

The Russian president will deliver the opening address, highlighting the importance of natural gas as a source of energy that supports economic growth. He will also discuss problems facing the gas industry and outline priorities for solving them.

Putin will then give the floor to GECF Secretary General Philip Mshelbila and the heads of delegations from member states. Representatives of several observer countries, including Mozambique, Angola, Azerbaijan, Iraq, Malaysia and Senegal, are also expected to address the forum.

The Russian president is also expected to hold five bilateral meetings during the day, including with Iranian President Masoud Pezeshkian, Qatari Emir Tamim bin Hamad Al Thani, Mozambican President Daniel Chapo, Equatorial Guinean President Teodoro Obiang Nguema Mbasogo and Libyan Presidential Council Chairman Mohammad al-Menfi.

The Gas Exporting Countries Forum (GECF) is an intergovernmental organization that aims to strengthen cooperation and dialogue among gas-producing and exporting countries and promote stability and safety in the global gas market. The forum’s first ministerial meeting took place in Tehran in 2001.

The GECF member states are Russia, Iran, Algeria, Bolivia, Egypt, Equatorial Guinea, Libya, Nigeria, Qatar, Trinidad and Tobago, the United Arab Emirates and Venezuela. Angola, Azerbaijan, Iraq, Malaysia, Mauritania, Mozambique, Peru and Senegal participate as observer countries.

GECF member states account for about 70% of the world’s proven gas reserves, 38% of global gas production, 42% of global gas exports and 47% of liquefied natural gas (LNG) exports.