April 23, 2008	Wednesday	Rabi-us-Sani 16, 1429

ROME, April 22: Moves are afoot to set up an Opec-style cartel for gas but even though the proposal seems a long way from reality just yet, consumers are concerned that exporters will gain a free-hand to set prices.

The world’s top gas exporters currently have the Gas Exporting Countries Forum or GECF as their informal platform for dialogue.

It was set up in 2001 and comprises around 15 gas-rich countries, including Iran, Russia, Qatar, Venezuela and Algeria, who control 73 per cent of the world’s gas reserves and 42 per cent of gas production.

Nevertheless, “there is a desire” among exporting countries “to have something more concrete,” said a member of the Iranian delegation, Javad Yarjani, speaking on the sidelines of the three-day International Energy Forum, which ended here on Tuesday.

An executive of the Iranian National Oil Company, Akbar Torkan, said that “in the next 20 years, oil’s share of fossil fuels will decrease while gas’ share will increase.

It is therefore necessary to focus more on gas.”

Claude Mandil, former head of the International Energy Agency, suggested the GECF could even set up its own secretariat along the same lines as the Organisation of Petroleum Exporting Countries (Opec) at a meeting to be held in Moscow in June.

Qatar’s Energy Minister Abdallah al-Attiyah had suggested in January that a “gas Opec” could be set up at the next meeting of the GEFC.—AFP