Nigeria takes helm of gas forum
LAGOS, December 18, 2014 – Nigeria’s Minister of Petroleum Diezani Alison-Madueke has been appointed as the president of the Gas Exporting Countries Forum (GECF). The appointment comes as Nigeria is desperate to earn foreign currency from gas, as the price of oil falls.
The forum’s goal is to limit the effect of the low oil price on the gas market. The appointment of Alison-Madueke, who is also the newly elected president of OPEC, shows the international community’s respect for Nigeria, which is its major oil exporter. The OPEC appointment did not, however, help Nigeria persuade swing producers in OPEC to cut production to boost oil prices.
Nigeria will host the GECF’s 17th Ministerial Meeting in Abuja in 2015