After seeing the damage OPEC can do to oil, leading natural gas exporters have convened to create their own cartel.
” ‘A new organization has been born today…. The charter has been agreed. The headquarters will be in Qatar,’ Russian Energy Minister Sergei Shmatko said after the meeting.
The forum groups Russia, the world’s biggest gas producer, with other gas-rich states such as Iran and Qatar and a dozen other gas-exporting countries.” – AP
Vladmir Putin said this will likely signal the end of “cheap gas.”
There are groups for everything these days and I suppose this means if you are a leading export of something, you have to be in a group to tell you what you should do. No one exporter can make a decision for themselves anymore.
