Gas-producing countries will discuss the idea of forming a "gas OPEC" along the lines of the Organization of Petroleum Exporting Countries in Moscow in June, Qatar's energy minister said riday.
Gas-producing countries will discuss the idea of forming a "gas OPEC" along the lines of the Organization of Petroleum Exporting Countries in Moscow in June, Qatar's energy minister said riday.

"I think we will discuss it at the next meeting at ministerial level of the Gas Forum in June this year" in Moscow, Abdullah bin Hamad al-Attiyah said at a news conference at the World Economic Forum in Davos, Switzerland.

He said members of the existing Gas Exporting Countries Forum had a appointed a "high expert" to look at the idea of a gas OPEC at a meeting in Doha in 2007. He will report his conclusions in Moscow.

Forming such an organization would not be a simple matter, however, he cautioned, not least because of the different ways that gas markets work around the world.

Talk of a "gas OPEC" for gas gained momentum in 2006 when Europe's two main natural gas suppliers, OAO Gazprom (GAZP.RS) of Russia and Algeria's Sonatrach, signed a partnership accord.

Talk of an organisation to control gas prices and output -- the idea is rumoured to have first put forward by Iran -- has alarmed Western countries which rely heavily on gas imports to fuel their economies and heat homes.

Russian President Vladimir Putin, whose country has the world's largest gas reserves and which has already attracted criticism for using gas as a political tool, said last February a gas OPEC was "an interesting idea."

Founded in 2001, GECF is an informal organisation grouping 15 countries. It includes Russia, Iran, Qatar, Venezuela and Algeria, which together control 72% of world gas reserves and 42% of production.

With the exception of Russia, most of the leading gas producers are also OPEC members.

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