Russia, Iran and Qatar have expressed interest in establishing a powerful OPEC-style group for exporting gas. The news comes after a tripartite meeting of Gazprom's board chairman, Alexey Miller, Qatar Minister of Energy and Industry, Abdullah Ben Hamad Al-Attiya, and Iranian Oil Minister Gholam Hossein Nozari.

"Great decisions have been taken at this meeting," said Nozari. "The sides agreed at the Tuesday consultations on the earliest formation of this organisation and on drafting its charter.

"The negotiators underlined that this document is to be submitted at a coming meeting of the foreign ministers of member states of a forum of gas exporting countries."

Talks about the creation of the group will send shivers down the spines of the United States and the European Union, which rely heavily on imports.

The founding fathers of any such group would be Russia, Iran, Qatar, Venezuela and Algeria. If realised, the alliance would control more than half of the world's known gas reserves and give the countries powerful leverage.


Date: October 21, 2008, 15:53
Source: RussiaToday