UAE joins Gas Exporting Countries Forum

The UAE has become the 12th nation to join the Gas Exporting Countries Forum (GECF), official media in the Gulf state reported. According to Emirati news agency WAM, the UAE's Federal Cabinet approved the country joining the forum, which consists of the world's top gas producers. The forum’s other members comprise of Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago and Venezuela. Together, the countries of the GECF control 70 percent of the globe's proven gas reserves, although the group itself is dominated by Russia, Iran and Qatar. The body says its objective is to provide transparency and stability in the gas industry, and encourage dialogue between stake holders in the world's natural gas industry.