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News // Oil and gas worldwide

A Draft Charter for Gas-OPEC

17 November 2008 , 10:03Ksenia Kochneva712
The new charter is expected to help the largely informal alliance into a more formal organization, which could resemble the Organization of Petroleum Exporting Countries.

The OPEC-style grouping should become a permanent body, holding regular meetings to discuss key developments in the gas markets, and could include other countries besides Russia, Iran and Quatar ("gas troika") later on.

This information made the European Union and the United States nervous, becuase they are afraid that "OGEC" (Organization of Gas Exporting Countries) would manipulate with the gas prices.

But Europe's top suppliers, apart from Russia, argue that the new organization would help better structure long-term gas needs and coordinate capital expenditure programs.

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