Iran studying proposed group of gas-producing countries
The Iranian oil ministry is studying a plan to create an international organization for gas-producing countries, an official from the think tank that drafted the proposal said Friday.
The proposed group would support gas-producing countries through a "transparent decision-making process in accordance with market shares and without economic prejudice," said the official from the
Institute for Energy Studies, which advises Iranian leaders.
The organization would be run very differently from OPEC, which groups oil-producing countries, the official said.
A preliminary attempt by Algeria, Iran, Russia and Turkmenistan to create an international gas-producing group failed in July.
Iran has the second largest gas reserves in the world after Russia, estimated at 20 trillion cubic metres (700 trillion cubic feet). – (AFP)
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