The 7th Summit of the Gas Exporting Countries Forum (GECF) opened in Algiers on Saturday, aiming at safeguarding the interests of both gas producers and consumers, according to Xinhua.

In his opening remarks, Algerian President Abdelmadjid Tebboune underscored the crucial role of the forum in tackling contemporary challenges, advancing sustainable development, and meeting the surging global demand for energy.

Tebboune reaffirmed the forum's commitment to supporting long-term contracts, fair pricing mechanisms, and substantial investments in the gas sector.

Senior officials and industrial leaders from Qatar, Iraq, Mauritania, Tunisia, Iran, Senegal, Mozambique, Bolivia, and Libya convened at the summit, showcasing a diverse representation of nations committed to shaping the future of global energy.

The GECF, headquartered in Doha, has 12 permanent members, namely Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, the United Arab Emirates, and Venezuela, as well as seven observer members.

These countries represent 69 percent of confirmed global gas reserves, 39 percent of marketed production, and 40 percent of global gas exports, according to the GECF official website.