An OPEC For Gas ?  

The WSJ reports that Iran, Qatar and Russia are considering creating a gas exporters cartel - Iran, Qatar, Russia Plan OPEC-Style Gas Group. As Iran currently isn't a gas exporter (in spite of holding a large amount of global reserves) and most of Qatar's and Russia's sales are via via long term contracts, there probably won't be any impact on gas prices in the medium term.

Iran, Qatar and Russia have agreed to form an OPEC-style organization for gas exporting countries, the Islamic Republic's oil minister said Tuesday after a trilateral meeting in Tehran.

The move would give Russia a greater say in international sales of natural gas and comes on the same day that OPEC Secretary General Abdalla Salem El-Badri arrived in Moscow to meet government officials.

Observers are watching those talks closely for signs of exactly what Russia wants from closer ties with the cartel, although there is no suggestion at this stage that Moscow is seeking full membership or would participate in an expected supply cut to be discussed Friday.

"The meetings went well and big decisions were made, and the groundwork was laid for the creation of a technical committee," Gholam Hossein Nozari said after Tuesday's meeting with Qatar's oil minister, Abdullah bin Hamad Al-Attiyah, and the head of Russian energy giant Gazprom, Alexei Miller.

The results of today's meeting will serve as a basis for cooperation so that other countries may join the association of gas exporting countries, Mr. Nozari said.