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Gas-OPEC to come on stream in April

19 March 2007 11:13 (UTC +04:00)

The biggest gas exporting nations will come together in Doha 0n April 9 to roll out a so-called gas-OPEC -gas exporting countries organization, after reaching a final agreement a week earlier, APA-Economics reports.
Russia, Iran, Qatar, Venezuela and Algeria- avowed founders of an OPEC-type cartel for gas - were also supported by Trinidad and Tobago.
The US and EU couldnâ€™t conceal the deep concern over establishment of a diverse union of gas producers aiming to stop competition between each other.
Established in 2001, the Gas Exporting Countries Forum will meet in Doha on April 9.
A month ago, Russian President Vladimir Putin and Qatari Emir Sheik Hamad bin Khalifa Al Thani said they would study the prospects of the creation of a natural gas cartel to represent the interests of producer countries to influence the global market.
Russia and Qatar are two of the worldâ€™s largest producers of natural gas, and tiny Qatar sits atop the worldâ€™s single largest gas field. Because of growing demand and lessening supplies, the United States has increasingly relied on natural gas imports in recent years.
European Union leaders said they would stand against any effort by Russia to create a gas cartel, fearing energy prices -- and Russiaâ€™s political clout -- could rise dramatically as a result. Europe gets up to 40 percent of its natural gas imports from Russia and some come via liquefied natural gas tankers from Qatar and Nigeria.
According to Eurostat, the European Union currently imports 40 percent of its gas, and by 2030, it is likely to rise to 70 percent. At present, Russia supplies 32% of the EUâ€™s needs. 80 percent of Russian gas exports are carried via the Ukrainian pipeline network, the rest of it through the construction of a pipeline linking Germany via Belarus and Poland.
The remainder of the gas imported into the European Union comes from Norway, Algeria, Nigeria and Qatar.
A number of EU states like Belgium, Luxembourg, Ireland, Portugal, Spain, Sweden and the UK import little or no gas from Russia at present. Denmark remains self sufficient while Norway and Holland are net gas exporters. Countries like Greece, Finland, Bulgaria and Lithuania import more than 95% of their gas consumption from Russia.
Iran put forward the idea of establishing a gas OPEC.
In January, Iran -- which is developing its gas industry -- said it favored forming a cartel.
The so-called Gas-OPEC is expected to join the countries producing and exporting more than 70 percent of world gas supplies. /APA-Economics/