Gas cartel could have a significant impact on Europe

As the secretary-general of Opec flew into Moscow yesterday to talk about oil, Alexei Miller, the chairman of Gazprom, was jetting out of Tehran after concluding talks about gas with Iran and Qatar.

We need not worry that Russia is about to join the oily club. Today’s visit by Abdullah al-Badri is a formality, but the talk of a gas cartel is a different matter. A combination of leading gas exporters, no matter how tentative, could pose a serious economic threat to Europe. We should first discount the hoopla from Gholam Hossein Nozari, the Iranian Oil Minister, who proclaimed yesterday that the talks between Russia, Iran and Qatar had reached

No such thing is likely – we can forget any notion of horse-trading gas production quotas