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Big 3 May Become Gas Market Fixture
The “Big Three” of natural gas may become a permanent organization in November, Gazprom chief Alexey Miller told a news program on Russian NTV. “A lot has already been done today to institutionalize the forum at its next meeting in Moscow in November,” Miller said, “so that it was a continually operating organization with a charter and headquarters.”
Russia’s participation in the troika is “fundamental,” Miller added. “In absolutely all positions, in volume of reserves, in volume of production, in volume of export and in volume of consumption, it is number one in the world,” he said of the country. “We are witnessing the natural gas market becoming more and more global… That, of course, leads to the development of a dialog between producers.”
Miller said that the organization would issue joint statements but “it is not a natural gas OPEC in any case.” He called the Big Three and the Forum of Natural Gas Exporting States “absolutely logical and dictated by the logic of the gas business. He added that it was in the interests of the consumer that deliveries be guaranteed.
Iran, Qatar and Russia agreed on the conditions for the establishment of a “gas OPEC” on October 21. Russia, Iran and other gas producing countries, such as Venezuela, Nigeria and Algeria have held several meetings as an informal club. In recent years, rumors have arisen about the creation of an organization similar to OPEC. The United States and European Union would threaten energy security throughout the world and allow price manipulation.
www.kommersant.com
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