Oman to take part in Russian energy forum

Oman, represented by the Ministry of Oil & Gas, will participate in a key energy forum due to held in the capital of oil and gas producing powerhouse, Russia, next month. The delegation will be headed by Salim bin Nasser al Aufi, Under-Secretary of the Ministry of Oil & Gas, a high-level Omani government official said in a statement to Russian media last week. The ‘Energy Efficiency and Energy Development International Forum’, being held as part of the Russian Energy Week (REW 2017), will take place in Moscow during October 3–7, 2017. Deliberations will focus on global oil and gas markets, as well as trends and developments spanning the coal, nuclear, electricity, carbon and related sectors.

Also taking place within the framework of the Russian Energy Week is the 19th Ministerial Meeting of the Gas Exporting Countries Forum (GECF) on October 4. The Sultanate of Oman joined the Doha-based global organization — which groups the world’s leading natural gas producers and exporters — in 2011. Moscow’s hosting of the upcoming Ministerial Meeting is significant in the context of its importance as one of the world’s largest gas exporters.

Oman has been eager to work alongside major gas producers to shore up international gas prices, which have fallen significantly in the wake of the wider oil price slump. Revenues earned from the export of liquefied natural gas (LNG) from the Sultanate’s LNG complex at Qalhat have sharply declined during this period.

While the Ministerial Meeting is essentially a closed-door event, Moscow is also hosting the St Petersburg International Gas Forum (SPIGF) as part of the ‘Russian Energy Week’. The high-profile annual event serves as a global platform for “substantive dialogue between leaders of the gas industry on the most acute and pressing issues”, according to the organisers.

Adding to the significance of the weeklong Russian Energy Forum will be the presence of OPEC Secretary General Mohammed Barkindo, who will participate in key discussions focusing on global efforts to stabilize oil markets.

International oil prices have largely perked up in the wake of the Declaration on Cooperation announced by OPEC and non-OPEC countries last December, a move backed by non-OPEC member Oman as well. The measure, which limits output by global producers, was extended for another nine months in May this year.

The weeklong event also includes a series of panel discussions focusing on themes, such as, ‘The Future of the Electricity Industry: How Power Systems and Consumers Are Set to Change’; ‘Globalization and Prospects for the Global Gas Market’; ‘The Future of the Coal Industry against the Background of a New Climate Agenda’; ‘The Role and Potential Development of Nuclear Energy in the Global Energy Mix’; and ‘Finding a New Balance on the Oil Market’.

Conrad Prabhu