Iran, Algeria to Discuss OPEC-style Gas Group

As reported by Reuters, Iran and Algeria are expected to discuss the formation of an OPEC-style gas group during a visit by  Algerian president Abdelaziz Bouteflika to Tehran.  As the article notes:

“… Iran wants to turn the previously toothless Gas Exporting Countries Forum (GECF) into a more formal organization akin to the Organization of the Petroleum Exporting Countries (OPEC), the 13-member grouping which makes output decisions that can sway global oil prices.

…The United States and Europe have warned against such a grouping, saying it could pose a danger to global energy security and create room for price manipulation.

Algeria and Iran are both members of OPEC and the GECF.  Russia will hold a ministerial meeting in November to discuss a charter for the forum, until now seen as a talking shop for gas producing nations.

Algeria is a major gas exporter to Europe. Iran is the world’s fourth-largest gas producer but consumes almost all of its production. It exports a fraction of its output to Turkey, but also imports from Turkmenistan….”

This entry was posted on Sunday, August 10th, 2008 at 6:22 pm and is filed under Algeria, Iran.  You can follow any responses to this entry through the RSS 2.0 feed.  Both comments and pings are currently closed. 

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