President Muhammadu Buhari will depart Abuja Friday to participate in the 5th Gas Exporting Countries Forum (GECF) Summit in Malabo, Equatorial Guinea, Nigeria’s Presidency said in a statement.
The one-day meeting will be attended by leaders of major gas-producing nations of the world namely, Algeria, Egypt, Equatorial Guinea, Libya, Bolivia, Iran, Qatar, Russia, Trinidad and Tobago, United Arab Emirates, Venezuela, Kazakhstan and Norway, whose countries account for 70 per cent and 80 per cent of global gas reserves and production respectively.
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.
President Buhari attended the Third Gas Summit in Tehran in November 2015. This Fifth Gas Summit in Malabo is the first time the biennial meeting will be hosted in Africa.
President Buhari had received Mr.Gabriel Mbega Obiang Lima, the Special Envoy of President Teodoro Obiang Nguema Mbasogo, who brought a special invitation to the Nigerian leader to attend the 5th Gas Summit as well as thanking Nigeria for her support towards the hosting on November 19.
During that visit, the President had noted that “Nigeria is more of a gas-producing rather than an -producing country. That fact had long been established. If we had followed our plans laid out in the 1970s for the gas sector.”