Gas producers dismiss cartel talk

Is there about to be an OPEC of natural gas?

Major gas exporting countries have said they will form a high-level committee to discuss pricing.

However, meeting in the Qatari capital Doha, the informal grouping, called the Gas Exporting Countries Forum, said it had no plans to set up a cartel.

Russia, will head the committee with other members also including Iran and Kazakhstan, Algeria and Qatar. The forum is a relatively informal grouping with a variable membership but it accounts for something like 70% of known reserves.

Some of its leaders had expressed interest in forming a cartel similar to Opec to control production and price.

[BBC News]

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