March 02, 2008

Leading gas producers plan Opec-like body

Events are becoming more and more sinister. From Gulf in the Media:

World's leading gas producers are holding consultations on the creation of an Opec-like gas organisation, just as crude oil surged to a record of $ 102 per barrel due to factors ranging from cold weather in Europe and the US as well as Opec president's views that the group will not raise output at its next week meeting. Although Nigeria has abundant natural gas yet to be explored, it is not immediately known whether the country is a party to the said move. Algeria, Iran, Qatar and Russia are holding consultations on the creation of an Opec-like gas structure, with the structure of the organisation being themain topic on the agenda.