Natural gas exporters to mull set-up of Opec-like organisationPublished: Wednesday, 6 February, 2008, 10:19 AM Doha Time
CYPRUS: Exporters of natural gas including Russia, Iran and Qatar will gather in June in Moscow to discuss setting up an Opec-style group of producer countries, Algerian Energy Minister Chakib Khelil said.
"The idea isn't clear yet; we're going to meet to develop the idea of an association of gas exporters, Khelil said yesterday on state-run radio in Algiers.
The International Energy Agency, a policy adviser to 27 energy-importing countries, last month said the creation of a gas group would indicate a will to control prices in a similar way to Opec, which supplies more than 40% of the world's crude oil.
The Gas Exporting Countries Forum agreed at a Qatar meeting last April to set up a committee of experts to study the possibility of forming an official group. The forum, established in Tehran in 2001, has no formal membership.
Countries that have attended its meetings include Russia, Iran and Qatar, the holders of the world's biggest reserves. Other attendees include representatives from Algeria, Bolivia, Brunei, Egypt, Equatorial Guinea, Indonesia, Libya, Malaysia, Nigeria, Oman, Trinidad & Tobago, Turkmenistan, the UAE and Venezuela. Bloomberg
