Gas exporters to meet in Tehran on April 28

Energy Trade

An alliance of the world’s leading gas producers will hold a ministerial meeting in Tehran on April 28, the head of Russia’s Gas Society said on Thursday.

“The Gas Exporting Countries Forum will hold a ministerial meeting in Iran’s capital on April 28, where the charter of the so-called gas ‘OPEC’ will be discussed,” Valery Yazev said. He said there were two draft charters, a “tough” one designed by Iran, and Russia’s “more delicate” version. Iran has proposed to regulate the functioning and principles of a gas equivalent of OPEC, while Russia’s draft envisages fixing gas pricing mechanisms and gas transit routs. “We should build an alliance of gas producers to formulate fair trading rules,” Yazev said. “Gas prices will not change, because they depend on the competitive situation with other energy prices,” he said in an attempt to alleviate opponents’ fears that a gas cartel will change radically the situation on the global markets.

The idea of establishing a gas OPEC was put forward by Russian President Vladimir Putin and has always been supported by Iranian officials. The Gas Exporting Countries Forum (GECF) first held a meeting in Tehran in 2001. The organization has not yet adopted a charter and lacks a strict membership system. However, it involves Venezuela, Iran, Libya, the UAE and Russia, and a number of other countries. Norway has the status of an observer. (rian.ru)

ADVERTISEMENT

Reforms to raise productivity would strengthen recovery - OE... Analysis

Reforms to raise productivity would strengthen recovery - OE...

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.