Gas exporters agree to enhance cooperation; no mention of cartel

Doha (Platts)--9Apr2007

The world's leading gas exporters ended a one-day meeting Monday with a
pledge to enhance cooperation to strengthen natural gas supply security and
market stability in the interests of consumers and producers, but made no
formal mention of creating a gas cartel along the lines of OPEC.

The 6th ministerial meeting of the Gas Exporting Countries Forum ended
with a mild communique that appeared designed to put to rest, for now,
speculation that the gas powers representing two-thirds of global reserves
were banding together to form a cartel.

"Endorsing the objectives set forth in the general framework of the
forum, the attending ministers emphasized the importance of the cooperation of
the gas exporting countries towards strengthening natural gas supply security
and market stability in the interest of both producers and consumers," said
the final communique.

It added: "Emphasizing the need for expanded cooperation through exchange
of views, the participating countries agreed on the following: Establishment
of a High Level Committee, chaired by Russia as a host country of the next
ministerial meeting, with the aim to evaluate the progress already achieved in
conducting the forum's activities and setting up its structure. The committee
will elaborate a comprehensive plan for enhancing the forum's performance
structure and define a way forward for its future development."

It confirmed the next ministerial meeting would be held in Moscow in
2008.

The ministers of Egypt, Qatar, Indonesia, Trinidad and Tobago, Russia,
Libya, Iran, Algeria and the UAE attended the Doha meeting.

The forum was created in 2001 with the aim of helping gas exporters
coordinate policy.

Venezuela, Russia, Algeria and Iran said earlier they wanted the forum to
eventually develop into a gas cartel along the lines of OPEC, but admitted
this would take time but would evolve gradually as the market became more
global.