A troika first, then a Gas OPEC?

by rahul | November 10, 2008 at 09:19 am
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As Iran, Qatar and Russia prepare to attend a new round of talks on gas cooperation in Doha, on Wednesday, Moscow expressed its willingness to create a Gas Troika to boost cooperation and stabilise world prices. This move comes into the scheme of creating a Gas OPEC like organisation in the very short future. "The idea of an OPEC-style body for gas producers has caused concern in the US and the EU."
Mon, 10 Nov 2008 13:24:05 GMT Russia's foreign minister has reiterated his support for a 'gas troika', saying the move will stabilize the gas prices in the world.   Sergey Lavrov's comment came as gas giants Iran, Qatar and Russia prepare to hold a new round of talks on gas cooperation in Qatar's capital city, Doha, on Wednesday.  "Russia's agreement with Iran and Qatar to establish a gas troika is an effort by gas producers to boost cooperation and stabilize prices in the global market,” Lavrov told reporters in Moscow on Monday.   Lavrov noted that a fixed price for natural gas would be beneficial for producers and consumers alike.  Iran's oil minister, Gholam-Hossein Nozari, his Qatari counterpart, Abdulla Bin Hamad al-Attiya and the head of Russia's Gazprom, Alexei Miller, last met in Tehran in October where they vowed to pursue the formation of an OPEC-like gas group.  Russia, Iran and Qatar are respectively ranked first, second and third in the world in terms of gas reserves. The idea of an OPEC-style body for gas producers has caused concern in the US and the EU.  Major gas exporters have met informally for several years at the annual Gas Exporting Countries Forum (GECF). Iran believes that all parties would benefit from turning the forum into a more formal organization similar to OPEC.
DB/CW/DT Original source at PressTV

Related stories: Venezuela, Russia begin offshore gas drilling, sign 15 coop deals, A Gas OPEC in the making?: The Russian initiative, the Iranian approval (updated)

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Rachel Nixon

Good find, rahul.

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First Flagged at 12:23 PM, Nov 10, 2008 by Rachel Nixon
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