Algeria, Iran, Qatar, Russia negotiating of OPEC-like Gas Cartel

Algeria, Iran, Qatar, Russia negotiating of OPEC-like Gas Cartel

www.interfax-news.com

Algeria, Iran, Qatar, and Russia are holding consultations on the creation of an OPEC-like gas cartel, with the structure of the organization being the main topic on the agenda, Ansari said.

"Now gas producers are in talks and consultations on the creation of a certain OPEC-like structure. These are Iran, Russia, Algeria and Qatar," Ansari said, adding that Tehran views these talks in a positive manner.

"We hope that the creation of a relevant organization will be a result of the talks, which we view in a positive manner. We hope that the creation of this organization will bring good not only to producers but also consumers, and will contribute to the efficient use of this type of energy," the diplomat said.

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Well, this is one way to break the stranglehold of OPEC's world domination. Unfortunately, it won't do much for the west-but it's obviously not designed to. These countries are distancing themselves from the trouble makers and creating their own self-sustaining environments. I just wonder how this will effect the oil / gas markets...

www.interfax-news.com
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