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Gas-Exporting Nations’ Cartel not yet on the Agenda
The secretary general of the newly convened Gas Exporting Countries Forum, Leonid Bokhanovsky, said that while a gas cartel was not yet “on the agenda,” such action could not be ruled out moving forward.
The GECF was officially established in December. Members include Qatar, Russia, Algeria, Bolivia, Venezuela, Egypt, Iran, Libya, Nigeria, Trinidad & Tobago, and Equatorial Guinea.
Bokhanovsky said that Kazakhstan, Norway, Canada and Australia might also become members of GECF.
Coordination of gas output can be challenging due to long-term contracts and the fact that many supplies are bound to pipelines. However, Algerian oil minister Chakib Khelil said recently that he hoped the GECF could influence gas prices the way OPEC does for oil.
Russia’s Energy Minister, Sergey Shmatko, said the GECF would aim to play a key role in the global LNG market.
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