LA PAZ – The eastern city of Santa Cruz will host the 4th Gas Exporting Countries Forum (GECF) Summit in 2017, Bolivian President Evo Morales announced Monday.
The president said at a press conference at which he was accompanied by Santa Cruz officials, that 12 nations will participate in the summit, along with another six countries attending as observers.
Morales formally presented Bolivia’s candidacy to host the 2017 meeting of the bloc in November at the end of the 3rd summit in Tehran.
The Andean nation exports its natural gas mainly to the neighboring nations of Argentina and Brazil.
The gas exporters group includes Russia, Iran, Qatar, Algeria, Bolivia, Egypt, Equatorial Guinea, Libya, Nigeria, Trinidad and Tobago, Venezuela and the United Arab Emirates, with The Netherlands, Iraq, Oman, Peru, Norway, Kazakhstan and Azerbaijan as observers.
Currently, the GECF countries control 42 percent of the world supply of natural gas, 70 percent of its likely reserves, 40 percent of the supply shipped via gas pipelines and 65 percent of the world market for liquefied natural gas.