Letter from London: ‘Gas OPEC’ may be just a matter of time
While calls for a gas equivalent of the oil alliance seem to do the rounds every few years, the arguments for such a group are stronger than ever
There is a history of hackneyed and oft-fanciful columns and papers on the emergence of ‘Gas OPEC’. Ever since Russian President Vladimir Putin sent chills down gas importers’ spines in 2007 with the suggestion of a bloc to coordinate supplies, the threat has lurked—and stayed—in the shadows. But the idea should not be seen as trite, absurd or scary—just premature—with credible reasons to think it may not be too far away. Let us start with the basics: a gas group akin to OPEC+ already exists. The Gas Exporting Countries Forum was created in 2001 as a group of aligned producers that partake in regular dialogues between their members and allied pacts such as OPEC. Granted, it does not adjust s
Also in this section
19 September 2024
Lack of competitiveness in refining sector and underbaked oil reserves threaten long-term stability
18 September 2024
In the first part of the fifth chapter of our history of oil and gas, we move the story on to the climate crisis and push for net-zero carbon emissions
18 September 2024
The burden of subsides on national economies seems to outweigh their political point scoring benefits, but removing them is not an easy task
17 September 2024
Decarbonisation strategy is already hurting upstream appetite and threatening near-term energy security