AP: Russia, Iran, Qatar discuss OPEC-style gas cartel
Russia, Iran, Qatar discuss OPEC-style gas cartel
Russia, Iran and Qatar took their first serious steps toward forming an OPEC-style cartel for natural gas on Tuesday, a prospect that has unnerved energy-importing nations in Europe and the United States. The three countries together account for 60 percent of the world's gas reserves, and Russia and Iran have both been accused of using their hold on energy supplies to bully neighboring countries. The European Union, which is heavily dependent on Russian gas, criticized the proposal, saying "energy supplies have to be sold in a free market."
Note EU-Digest: The three countries do not control 60% of the gas supplies and the idea of a gas cartel makes little sense unless it includes at least the top ten suppliers of natural gas which are:
1. Russia … 656.2 billion cubic meters (19.9% of estimated world total)
2. United States … 490.8 billion cubic meters (14.9%)
3. Canada … 178.2 billion cubic meters (5.4%)
4. Iran … 101 billion cubic meters (3.1%)
5. Algeria … 84.4 billion cubic meters (2.6%)
6. United Kingdom … 84.2 billion cubic meters (2.6%)
7. Norway … 83.4 billion cubic meters (2.5%)
8. Netherlands … 77.3 billion cubic meters (2.3%)
9. Indonesia … 74 billion cubic meters (2.2%)
10. Turkmenistan … 72.3 billion cubic meters (2.2%).
Labels: Cartel, Gas Supplies, Iran, Quatar, Russia
