The 8th Summit of the Gas Exporting Countries Forum (GECF) began today in Moscow and is scheduled to continue until October 27. This gathering follows the previous summit held in Algiers, upholding the principles of the "Algiers Declaration" regarding state sovereignty over energy resources and the importance of market stability. The event takes place amid a surge in European gas prices, which hit over $1,000 per thousand cubic meters in September 2026 due to Middle East tensions. Europe is currently facing winter supply challenges, characterized by declining LNG imports and stiff competition with Asian markets. Meanwhile, the GECF's "Global Gas Outlook 2055" report projects a 30% increase in global gas demand by 2055, driven by economic growth and energy transition efforts.