Iranian President Masoud Pezeshkian has urged major energy-producing countries to oppose US measures that he says threaten global energy market stability, warning of potential disruptions to supplies, transportation and prices.
Speaking at the eighth summit of the Gas Exporting Countries Forum (GECF) in Moscow on Tuesday, October 27, Pezeshkian called on major energy suppliers to condemn and effectively counter what he described as unilateral US sanctions and restrictions affecting Iran’s maritime and air access.
He said geopolitical tensions and military involvement in the Gulf region could have wider consequences for global energy security, with potential effects on energy prices, supply chains and transportation.
According to a report by Anadolu, citing Iran’s state news agency IRNA, Pezeshkian also warned that damage to energy infrastructure and disruptions to energy transportation could undermine global energy resilience and affect the wider economy.
Iran Calls for Greater Cooperation Among Gas Producers
The Iranian President called for stronger cooperation among GECF member countries to reduce vulnerabilities in global energy markets and strengthen the security of energy supply and demand.
He highlighted opportunities for collaboration in energy governance, technical and engineering services, technology development and market management.
Pezeshkian also said Iran was seeking to expand joint investments across the natural gas value chain, improve efficiency and increase gas trade at regional and international levels.
He expressed Tehran’s readiness to cooperate with foreign investors on upstream and downstream gas projects, as the country seeks to expand its participation in international energy investment and trade.
Iran Highlights Natural Gas Production Capacity
Pezeshkian said Iran has an annual natural gas production capacity of approximately 280 billion cubic metres and is prepared to contribute more to joint investment projects, international gas trade and efforts to strengthen global energy resilience.
The GECF provides a platform for major natural gas-producing countries to discuss developments in the international gas market and coordinate areas of mutual interest.
His remarks come amid concerns about the impact of geopolitical tensions, sanctions and potential disruptions to energy infrastructure and transportation on the stability of international energy markets.