A Critical Analysis of the 8th GECF Summit and the Emerging Multipolar World Order

The 8th GECF Summit hosted by Russia is a careful endeavour to minimise the monopolistic Western control over the production and distribution of natural gas.

Photo: Maxim Bogodvid, Kirill Zykov, GECF Summit photo host agency

Importantly, these changes will certainly influence the global economic order as developing countries are not likely to remain passive if their interests continue to be ignored by global players. Thus, the existing changes most probably support the rebalancing of the current global economic and energy orders and the growing multipolarity of the international system.

For Russia, this summit had high diplomatic and strategic importance. In 2022, the western governments increased illegal and unilateral sanctions and financial restrictions against Moscow. They also began political and financial measures to avoid dependence on Russian energy. However, the results of the Moscow forum showed that Russia maintains an important position in the world’s energy diplomacy. Representatives from Guinea, Iran, Libya, Qatar, Algeria, Venezuela, Egypt, Nigeria, United Arab Emirates, and other countries took part in talks dealing with market stability and investment. The observer countries included Angola, Azerbaijan, Iraq, Malaysia, Mauritania, Mozambique, Peru, and Senegal. The participation of these countries pointed out that in the current geopolitical situation, disputes do not separate states from the need for economic interaction and diplomatic relations.

The Importance of GECF

The significance of the GECF stems from the large gas potential of its members, which together hold around “69% of the world’s proven natural gas reserves, account for 39% of marketed production, contribute 40% of global gas exports, and represent 51% of liquefied natural gas (LNG) exports.” This creates a good basis to influence world energy discussions. Compared to OPEC, the GECF has a less formal framework and, therefore, less opportunity to coordinate gas production. Russia’s role is important in this context, not least because of its large gas potential and the pipeline infrastructure, technology and geographical position to major gas consuming areas of Europe and Asia. By holding the summit, Russia emphasized its efforts to play an important role in international energy architecture, and to not take a back seat in a more fragmented global economy (Russian MFA, 2026).

The Moscow Declaration was the major outcome of the Summit’s political and institutional work. It reiterated the permanent sovereign rights of Members over their natural gas resources. It underlined the need for reliable supply and consistent flow of investment and the application of the best available technology. It underlined the need for equitable access to international energy markets. Of particular relevance was the Declaration’s position on the unlawful and pernicious nature of unilateral coercive measures. It also referred to the extraterritorial application of national........

© New Eastern Outlook