TEHRAN –Iran will host the next ministerial meeting of the Gas Exporting Countries Forum (GECF), according to a statement from Iranian Oil Minister Javad Oji.

Addressing reporters during a cabinet session on Wednesday, Oji underscored Iran's leading position in flare gas recovery, emphasizing a remarkable 5% growth in natural gas production, surpassing the 2.5% average observed among all Forum members, despite facing sanctions.

The Iranian minister noted that the decision to entrust Iran with hosting the future summit was a unanimous agreement during this year’s GECF meeting in Algiers. He emphasized that discussions during this year’s summit encompassed various topics, including technical and engineering services, gas field development, among others, involving collaboration with fellow member countries.

Oji took the opportunity to showcase Iran's prowess in the oil and gas industry, unveiling innovative contract formats in gas fields designed to attract foreign investments. He placed particular emphasis on the nation's capabilities in providing technical and engineering services, marketing gas products, and effectively managing pressure lines.

Oji elaborated, stating, "Our energy infrastructure is well-prepared for efficient transmission from north to south and east to west. Iranian President Ebrahim Raisi contributed valuable suggestions for energy transmission during the summit."

Highlighting the international presence of Iran, Oji asserted, "We've expanded our reach, providing technical and engineering services not only in Europe but also across the north and south America. Our companies have earned commendable rankings in this field."

The GECF, established in 2008 based on an initial proposal by Iran as one of the world’s largest holders of natural gas reserves, consists of 13 permanent members and seven observers. 

Iran now holds the position of the world's second-largest gas reserve country, boasting approximately 34 trillion cubic meters. Presently, Iran possesses 22 gas fields.