The world’s largest natural
gas exporters met in Moscow
on Tuesday December 23 to found a formal industry body, analogous to the Opec
cartel in the oil market. But the organisation’s launch was confusing, with
sharply contrasting signals about its purpose and disagreements flaring between
members over production cuts.
Energy ministers from 16 countries, including Russia,
Iran,
Qatar,
Venezuela,
Algeria,
Nigeria,
Libya
and Indonesia,
finalised the founding charter of the Gas Exporting Countries’ Forum and
established a permanent secretariat for the body, which has existed informally
since 2001. Its headquarters will be in Doha,
a last minute change from the earlier intention of St Petersburg....