Gas Exporting Group Requests Pricing Coordination

The 13-member Gas Exporting Countries Forum will practice supply and demand management to achieve a fair price, the group’s secretary-general, Leonid Bokhanovsky said.

He said that, “Once the majority of gas exporters agree and commit on uniform behaviors in the market, we could be expecting desirable decisions to be made and effective actions to be taken which is in line with the objectives of the forum”, Iran’s SHANA news agency reported.

GECF plans a summit for heads of state in Moscow next year as well as a ministerial meeting in Tehran.

The GECF member states in their 14th ministerial meeting in Malabo, have selected Iran’s Oil Minister Rostam Qasemi as the chairman of the upcoming GECF ministerial meeting in Tehran scheduled for November 2013.

The forum unites 12 countries as full members and 3 as observers. The full members possess 70 percent of the world’s gas reserves and account for 42 percent of gas production, 38 percent of transport through gas pipelines, and 85 percent of the liquefied natural gas (LNG) business.

The GECF members are Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad & Tobago, Venezuela, and Oman.

[mappress]
LNG World News Staff, December 25, 2012