The Russian president hosts the Gas Exporting Countries Forum summit in Moscow.
On Tuesday, President Vladimir Putin accused Western nations of destabilizing the global gas industry through “terrorist attacks” on Russian pipelines and trade barriers, while calling on gas-exporting countries to strengthen cooperation in the face of mounting challenges.
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Speaking at the 8th Summit of the Gas Exporting Countries Forum (GECF) in Moscow, Putin said the organization—founded 25 years ago as a platform for expert analysis and market forecasting—has evolved “without any backroom intrigue or attempts to manipulate the market.”
The Russian leader noted that GECF member countries account for 70% of the world’s natural gas reserves and approximately 40% of global gas exports, making a “significant contribution to global energy security and the balanced development of countries and macroregions.”
Putin said natural gas currently accounts for a quarter of the global energy mix, with consumption rising 1.2% in 2025 to 4.2 trillion cubic meters. He predicted these trends would continue, saying “the role of natural gas as a mainstay of global energy, industry, agriculture and international trade will only grow.”
President @drpezeshkian met Russian President Vladimir #Putin on the sidelines of the Gas Exporting Countries Forum Summit. They discussed expanding political, economic, trade and energy cooperation, including joint projects in the oil and gas sectors. pic.twitter.com/ie6N35iz5h
— Government of the Islamic Republic of Iran (@Iran_GOV) October 27, 2026
He also pointed out that Russia ranks first in the world in natural gas reserves and second in production, having built a “unique production complex” that enables supply diversification and development of gas processing and chemical production.
However, Putin painted a bleak picture of the current global gas industry, citing deteriorating conditions in the Middle East and attacks on Russian infrastructure.
“Russian gas pipelines to Europe have been subjected to outright terrorist attacks—they were blown up,” Putin said, referring to the 2022 explosions on the Nord Stream pipelines.
“Some countries have also imposed barriers to purchasing equipment and technology for the sector. As a result, the global gas industry faces uncertainty,” he added and warned that efforts to exclude Russia from global gas markets would backfire.
“Any attempts to exclude Russia from the global gas market or hold back the development of our gas industry have serious consequences, above all in the form of rising, exorbitant costs for end users abroad—companies, industrial enterprises and households,” he said.
Putin directed particular criticism at Europe, saying the continent is “undermining its own industry and social sector by rejecting Russian energy supplies and terminating long-term contracts.”
‘It’s my pleasure to welcome you to Moscow for the 8th GECF Summit’ — Vladimir Putin
‘It’s an organization that has brought together leading global natural gas producers and suppliers’ https://t.co/foCliAMxvZ pic.twitter.com/ire6ZiiHVo
— RTRussia (@RT_Russia_) October 27, 2026
Quoting a Russian proverb, he said: “Do not dig a pit for someone else, or you may fall into it yourself. In my view, this is precisely what has happened in EU countries.”
To address industry challenges, Putin called for enhanced cooperation among gas-exporting nations rather than the erection of barriers.
“We must build on our own capabilities and sovereign technologies, developing open, trust-based cooperation founded on mutual benefit and respect for each other’s interests,” he said.
The Russian leader expressed confidence that the GECF and its members have the resources to tackle complex challenges in the gas industry and global energy sector, adding that Russia “stands ready to make a substantial contribution to this work.”
teleSUR/ JF
Source: MFA
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