A debate has been on for a while now regarding the possible formation of a natural gas cartel with Russia and other major gas producing nations seeking prominent roles. However, Russia has now surprisingly announced that it will not sign any such accord to form a gas cartel. What Russia apparently seeks is closer ties with other gas producing nations, but no more.
Russia’s energy minister Viktor Khristenko said on Friday that Russia would uphold enhancing of ties between the central Asian gas giants at the upcoming industry gathering in Qatar on Monday. The minister made it very clear that
Russia will not sign an accord creating a pricing cartel or “gas OPEC’
Industry gathering at Qatar
Energy ministers from Russia, Iran and Qatar, holders of the world’s biggest natural gas reserves, will meet Monday with envoys from other producers under the umbrella of the Gas Exporting Countries Forum. It is expected that the group would evolve as a partnership forum where the nations can share and benefit from each others technology, investment and data, a spokesman for the Kremlin, Dmitry Peskov, said during an interview.
This sudden change in Moscow’s attitude is queer as it marks a shift from its earlier policy remarks. The Russian leader Vladimir Putin had extended the idea of a gas cartel many a times since last year. A gas cartel, if formed, would have led to major power defining shifts in the world, with the gas producing nations gaining ownership rights over their produce. Also, the price regulation would be in the hands of these few nations, leading to major concentration of power.
Via: IHT
