Natural Gas Exporters Won't Emulate OPEC
Russia, holder of the world’s biggest gas reserves and the largest exporter to Europe, said the Gas Exporting Countries Forum won’t emulate OPEC by imposing production quotas on members.
The forum “is not OPEC,” Anatoly Yonovsky, Russia’s deputy oil minister, told reporters in Cairo before the 11- member group meets tomorrow. “I think it won’t ever be.”
Gas and oil markets are “quite different” and no members have attempted to impose production quotas in the same manner as the Organization of Petroleum Exporting Countries, he said.