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GEC = Gas Exporting Countries


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No matter what politics we play against each other, We ALL best keep an eye on this.




RUSSIA: A gas cartel similar to the Organisation of Petroleum Exporting Countries (OPEC) could form as soon as June, Russian daily newspaper Kommersant reported.


A meeting of the Gas Exporting Countries Forum will take place in Moscow that month and could pave the way for the organisation to become a cartel, with a charter akin to that of OPEC. Among its members would be Algeria, Bolivia, Brunei, Egypt, Equatorial Guinea, Indonesia, Iran, Libya, Malaysia, Nigeria, Oman, Qatar, Russia, Trinidad and Tobago, the United Arab Emirates and Venezuela, if all current forum members sign up. Norway has been a keen observer of the gas forum in the past, while Turkmenistan has taken part in some meetings of the group, which was first formed in 2001.


At present the forum does nothing more than act as a go between for producers, consumers, governments and others energy sector bodies. If the Iran-spearheaded change goes ahead, then it would grasp control of supply and pricing. Both the European Union and the United States will strongly oppose such a cartel, with the possibility that political repercussions could be threatened.


The exact date of the June meeting has not been set, but members agreed to the month when they met in Cairo earlier this week.

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