The members of the G20 account for around 70% of global gas consumption and include some of the world’s largest gas producers and exporters. During 2014, the G20’s Energy Sustainability Working Group (ESWG) met three times (in Melbourne, Sydney and Brisbane) to discuss global energy issues, including significant shifts in gas supply, demand, production and trade.
Recognising the increasing demand for gas and the changing nature of its supply, at its Brisbane meeting in August 2014 the G20 agreed to hold a dialogue to engage with countries beyond its membership, together with gas industry experts from industry and both international and regional organisations.
The G20 viewed the International Energy Forum (IEF) as a natural partner for this dialogue, given the IEF’s neutral platform, its broad membership of 76 countries, and its core objective of fostering greater mutual understanding and awareness of common energy interests among its members.
The G20-IEF Gas Market Dialogue was held on 11 November 2014 in Acapulco, Mexico, one day prior to the Fourth IEF-IGU Ministerial Gas Forum. The objective of the gathering was to enhance cooperation and communication among gas industry stakeholders and to identify practical ways to improve the functioning of gas markets. Discussions at the G20-IEF Gas Market Dialogue, wherein roughly 40 stakeholders from government, industry and international organisations participated, were structured around three key themes: market transparency, encouraging investment, and gas market supply security. Findings from the meeting, which was held under the Chatham House Rule, will feed into the ongoing G20 ESWG and IEF energy dialogue processes.