Venezuela Proposes Organization of Gas Exporting Countries

A gas cartel among gas producing countries, similar to OPEC for oil exporting countries, is on Venezuela's agenda during this week's Gas Exporting Countries Forum (GECF) in Doha, Qatar. Many gas-exporting countries have expressed interest, but the U.S. Congress has criticized the idea saying that the creation of a cartel would be seen as a "deliberate threat."

Rafael Ramírez, Venezuela’s Minister of Energy and Petroleum, arrived in Qatar yesterday for the GECF meeting, a forum attended by many of the world's natural gas exporters. The forum includes major gas producers such as Russia, Iran, Qatar, Venezuela, and Algeria, which together control 73% of world gas reserves, and 42% of the world's production.

"We are here to support a gas-OPEC. It's a good idea," stated Ramírez upon arriving tat the forum yesterday. "We will discuss the idea," he said.
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