World’s gas exporters to meet in Tehran April 28

April 25th, 2008 - 6:20 pm ICT by admin  

RIA Novosti
Moscow, April 25 (RIA Novosti) An alliance of the world’s leading gas producers will hold a ministerial meeting in Tehran April 28, the head of Russia’s Gas Society said. “The Gas Exporting Countries Forum (GECF) will hold a ministerial meeting in Iran’s capital April 28, where the charter of the so-called gas ‘OPEC’ will be discussed,” Valery Yazev said Thursday.

He said there were two draft charters, a ‘tough’ one designed by Iran, and Russia’s ‘more delicate’ version.

“We should build an alliance of gas producers to formulate fair trading rules,” Yazev said.

“Gas prices will not change, because they depend on the competitive situation with other energy prices,” he said in an attempt to alleviate opponents’ fears that a gas cartel will change radically the situation on the global markets.

The idea of establishing a cartel of gas supplying nations on the line of the Organisation of the Petroleum Exporting Countries (OPEC) was put forward by Russian President Vladimir Putin and has been supported by Iranian officials.

The GECF first held a meeting in Tehran in 2001.

The organisation has not yet adopted a charter and lacks a strict membership system. It involves Venezuela, Iran, Libya, the United Arab Emirates (UAE) and Russia, and a number of other countries. Norway has the status of an observer.
RIA Novosti

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