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‘Gas Opec’ on the Way

April 24th, 2007 by John

Recently, the 13 largest natural gas exporters held a meeting in Doha, Qatar. In The Observer, Alexander Temerko, former vice-president of Yukos, the Russian oil giant said, “I believe Moscow has already decided that a gas cartel is inevitable.” He believes that what they have in mind is, “… an organisation that will behave in ways entirely hostile to the market-orientated goals for which UK governments have pushed for two decades.”  We should remember that about 40% of the yield in grain and oilseed crops comes from the use of nitrogen fertiliser made using gas as the feedstock. In 2006 the European Commission warned that by 2030 , 84% of European gas supplies would come from outside the EU.                                                                                                                                                                               Â

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