“To begin with, I think putting the word “gas Opec’ was a mistake,” Iranian Oil Minister Gholam Hossein Nozari told delegates at the World Petroleum Congress yesterday.
“It was not supposed to be any organisation of that sort. It was supposed to be a forum for different exporting countries to cooperate.”
On Tuesday, Russian Deputy Energy Minister Anatoly Yanovsky told delegates: “We don’t want to speak about a group that would set prices with gas quotas. Absolutely not.”
He said the idea was not to have a group like Opec, adding “we don’t talk about such a structure.”
Both officials stressed that the idea was for gas exporters to meet together to simply share information and ideas about technology.
“I think it is no problem to have a forum for gas exporting countries and this forum is going to be for cooperation on technical experience to be exchanged between members and nothing else,” Nozari said through a translator.
The idea for a 'gas Opec,' first put forward by Iran, gained momentum in 2006 when Europe’s two main natural gas suppliers, Gazprom and Algeria’s Sonatrach, signed a partnership accord. It appeared to gain political backing from former Russia president Vladimir Putin who called it an “interesting proposition” and from Algerian leader Abdelaziz Bouteflika.
The study takes into account premium office rents of Dubai International Financial Centre (DIFC) and Abu Dhabi Global Markets (ADGM)
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