How the formation of a Natural-Gas Cartel will change the industry?
"A group of major natural-gas producers and exporters are uniting in a bid that could be a prelude to the eventual formation of another world energy cartel." - Gas Exporters to Study Cartel, WSJ, April 10, 2007; Page A6
It seems like we may see the formation of a natural-gas cartel in the nearest future. Among the most active promoters of the idea and possibly the most active and influential members of the future "Gas OPEC" are Russia, Iran, Libya and Venezuela.
How do you think the industry and the global market for natural gas and related products will be transformed? What positive or negative consequences do you foresee? What are the implications for major oil and gas companies?
Good Answers (1)
Bruce K.
Consultant at XMS Solutions, Inc.
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I'm sure that this new group will start off with the best of intentions and will be telling people that they have no intention to fix prices and that they're only forming up to facilitate communication and work out issues of mutual interest. But I would expect that will change once they realize the power they have. In the US, I'm sure that this would be illegal under anti-trust laws. Imagine if Exxon-Mobil and Chevron and Shell and Texaco all got together to talk about the gasoline industry!
bruce.kane.linkedin@gmail.com
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M. Prabhakar R.
100% Green Buildings at no additional construction costs, Comprehensive Sustainability Consulting, Energy Audits.
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Dear Yaroslav,
I concur with Bruce. ONGEC also will go exactly the way OPEC did.
