The Russian daily has cited analysts saying that the gas exporters’ cartel will immediately not achieve the kind of global influence that is exerted by Organization of Petroleum Exporting Countries (OPEC), due to opposition from the US and the EU.
Kommersant reported that members of the Gas Exporting Countries Forum (GECF), which reportedly controls 73% of the world’s gas resources and 42% of the production, have decided to establish a charter based on OPEC guidelines at a GECF session in June 2008.
Iran, which has the world’s second largest reserves of gas, is reported to have proposed the draft in 2007.
Kommersant noted that the US is taking a strong view of the proposed gas cartel and is considering it a potential security threat. Russia, Iran, Venezuela, Qatar and Algeria are likely to be the founding members of the cartel.
