Calls for OPEC-style gas cartel become louder

Gas exporting countries meeting in Doha in April will discuss forming an OPEC-like group Iran’s oil minister Kazem Vazeri-Hamaneh says. This follows calls by Iranian leader Ayatollah Ali Khameni for Russia and other natural gas producers to establish a gas cartel.

Iranian energy officials believe that even without the participation of Russia a grouping of Algeria, Morocco and Venezuela would be sufficient to make a gas export group viable.
Analysts believe that Europe in future will increasingly turn to supplies from Qatar and Algeria and also seek investment by Arab states in distribution networks. Observers note however, how fluid the situation is and there is growing speculation over new alliances

Global demand for LNG is estimated to be growing 12 per cent a year. As well as its growing relationship with Algeria, Russia also has significant contacts with Egypt and Libya which are increasingly important LNG suppliers to Europe.

AME Info