A troika first, then a Gas OPEC?
rahul | November 10, 2008 at 09:19 amby
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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