Senegal joins the club of gas powers this year, especially thanks to the Grand Tortue Ahmeyim (GTA) project. It has already obtained observer status within the "OPEC of gas," before becoming a full-fledged member.

Senegal has officially become a member of the Gas Exporting Countries Forum (GECF), an intergovernmental organization aimed at advocating for the interests of major natural gas exporting countries, as announced by the Senegalese Ministry of Petroleum in a statement.

Senegal is taking a further step towards the responsible exploitation of its natural resources for the benefit of the population, emphasized the Ministry.

Senegal's integration brings the number of member states in this forum, founded in 2001, to 20, including 12 member countries such as Algeria, Libya, Nigeria, Egypt, Russia, Qatar, and eight observer countries, including Angola, Mozambique, Iraq, Mauritania, Norway, and others.

According to this group, its members account for 70% of the world's proven gas reserves and 51% of global liquefied natural gas (LNG) exports.

Dakar's accession as an observer member of this forum, also known as the "OPEC of gas," was formalized during the seventh summit of the organization held in Algiers from February 29 to March 2, 2024.

Established in 2001, the GECF aims to enable member countries to collectively anticipate developments in the natural gas market and to develop the exploitation of their resources under the best conditions, especially economically and environmentally.

Unlike OPEC, the Forum does not present itself as a producers' cartel and does not establish production quotas for its members.

Senegal is expected to join the club of global gas powers this year, especially with the commencement of production from the Greater Tortue Ahmeyim (GTA) project. This deposit, discovered 60 kilometers off the Senegalese-Mauritanian coast, contains over 900 billion cubic meters of gas.

Article source: africanews