SPIEF Energy Talks Should Focus On Supply Security Amid International Sanctions - GECF

ST. PETERSBURG (UrduPoint News / Sputnik - 06th June, 2019) T. PETERST. PETERSBURG (Pakistan Point news / Sputnik - 06th June, 2019) BURG, June 6 (ST. PETERSBURG (Pakistan Point News / Sputnik - 06th June, 2019) putnik), Anastasia Dmitrieva - Energy talks at ST. PETERSBURG (Pakistan Point News / Sputnik - 06th June, 2019) t. Petersburg International Economic Forum (ST. PETERSBURG (Pakistan Point News / Sputnik - 06th June, 2019) PIEF) should focus on supply security amid international sanctions against Russia, Iran, Venezuela, Yury ST. PETERSBURG (Pakistan Point News / Sputnik - 06th June, 2019) entyurin, the secretary general of the Gas Exporting Countries Forum (GECF), told ST. PETERSBURG (Pakistan Point News / Sputnik - 06th June, 2019) putnik in an interview on Thursday.

"Sustainable development and energy security [should be discussed], especially when there is such a situation. We calculated that GECF countries own 70 percent of world gas reserves. From that volume, if we take Russia, Iran, Venezuela, Libya and Algiers where situation is very troubling, from that 70 percent, almost 40 percent is in an unstable zone, that is affected by the sanctions regime � imposed or announced.

When we talk about such volumes, we should think about energy security and supply security, it should be discussed, otherwise it would be irresponsible," Sentyurin said, when asked what should be the focus of SPIEF energy discussions.

GECF chief remarked that "oil and gas people work honestly."

"But their work goes together with great risks of financial transactions, deals, equipment deliveries through international arteries. This question seems obvious, and more importantly it is up in the air," Sentyurin said.

Meanwhile, the International Energy Agency said in April that it was ready to ensure that markets would remain well supplied amid US sanctions against Iran.

In addition, Omani Oil Minister Mohammed Rumhi said earlier in May that large oil producers, like Saudi Arabia and Russia, would be capable of compensating for the decrease in Iranian oil exports

SPIEF began on Thursday and will last through Saturday. Rossiya Segodnya International Information Agency is an official media partner of the forum.