Russia’s draft charter to transform the Gas Exporter Countries Forum (GCEF) into an influential gas lobby group, similar to OPEC in the oil trade, has been worked upon by the country’s Industry and Energy Ministry and gas monopoly Gazprom.
The Russian draft charter is expected to suggest a milder version of a gas cartel, with functions ranging from the creation of gas pricing formulas and planning gas pipelines.
Industry sources are of the opinion that, it will be difficult for potential members to reach a consensus over the role of the organization. Russia reportedly does not favor a cartel-like arrangement due to the potential political fallout.
The news source quoted, Vladimir Milov, president of the Energy Policy Institute, as saying that the likelihood of such a gas cartel was low, with potential members having differing interests and strategic arrangements.
