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Gas OPEC Launched

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    Venezuela, Algeria, Qatar, Iran and Russia are launching gas OPEC http://english.eluniversal.com/2007/03/19/en_eco_art_venezuela,-algeria,_19A846309.shtml
    Message 1 of 1 , May 25, 2007
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      Venezuela, Algeria, Qatar, Iran and Russia are launching "gas OPEC"
      http://english.eluniversal.com/2007/03/19/en_eco_art_venezuela,-algeria,_19A846309.shtml


      Five of the world's largest oil producing countries
      -Venezuela, Algeria, Qatar, Iran and Russia- are
      launching an "OPEC of gas" during an energy conference
      to be held next April 9 in Doha, Monday said Russian
      Kommersant newspaper quoting Arab diplomatic sources.

      The meeting of the Forum of Gas Producing Countries,
      scheduled since a long time now, will be a good time
      to announce the creation of a real cartel of gas, the
      newspaper added without disclosing the sources, AFP
      reported.

      The sources assured that the parties are about to
      reach an agreement.

      The countries founding the new energy organization
      would be Algeria, Qatar, Iran, Russia and Venezuela,
      Kommersant explained, and highlighted a number of
      statements some authorities in these countries have
      made favoring the creation of this group.

      Energy experts rather believe that creating an
      organization of gas exporting countries -or OPEC of
      gas- is virtually impossible given the particularities
      of this market, which is tighter than the oil market.

      Natural gas is traded in financial markets, but only
      in a small proportion. Gas is mostly traded under very
      long-term bilateral client/supplier agreements that
      generally match oil prices.

      Further, the gas market is quite regionalized, as this
      product is hard to transport, unlike oil.

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