Thursday, May 03, 2007

Gas cartel still remains a tale

The much puffed up gas price- fixing cartel, on the lines of OPEC, continues to remain a tale as the Russian energy minister Viktor Khristenko said “niet” or no to it at a recently concluded meeting of the Gas Exporting Countries Forum in Qatar. The Forum, which groups 15 of the world’s gas-rich nations, together holding more than 70% of reserves and around 40% of production, dismissed the idea saying that it has no intention to set up a cartel – at least for now (if believed). Instead, it plans to form a high-level committee to discuss pricing, infrastructure and consumer issues.

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