Moscow:Iran's ambassador to Russia has emphasized the significance of the Islamic Republic's involvement in the Gas Exporting Countries Forum (GECF) as a move to enhance energy diplomacy and multilateral cooperation.

According to Islamic Republic News Agency, Kazem Jalali commented on Iran's participation in the upcoming 8th GECF summit set to take place in Moscow on October 27. He highlighted that Iran, which holds one of the largest gas reserves globally, will have President Masoud Pezeshkian representing the nation at the forum. The summit is expected to address the establishment of a new order within the energy sector.

Jalali further noted the strategic importance of the gathering, as it will unite countries holding 70% of the world's gas reserves. This convergence is seen as crucial for ensuring market stability and developing a future roadmap for energy.

The GECF comprises nations such as Iran, Russia, Algeria, Bolivia, Egypt, Equatorial Guinea, Libya, Nigeria, Qatar, Trinidad and Tobago, the United Arab Emirates, and Venezuela, collectively accounting for about two-thirds of the world's proven gas reserves.

The Moscow summit aims to bring together leaders from member countries to discuss global gas market developments, potential cooperation opportunities, and strategies to enhance the role of natural gas in the global economy.