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World International gas cartel to be fully operational by next year:Russia
Russia today said the Gas Exporting Countries Forum (GECF), a ''gas equivalent'' of the OPEC oil cartel, will be fully operational next year. ''Its formation will be completed in 2010. Six countries have already ratified the documents,'' Russian Energy Minister Sergei Shmatko told reporters here. The GECF to be set up on the pattern of OPEC, includes Qatar, Russia, Algeria, Bolivia, Venezuela, Egypt, Iran, Libya, Nigeria, Trinidad and Tobago and Equatorial Guinea. The gas forum would play a key role in coordinating activity on the market of liquefied natural gas (LNG), Mr Shmatko said, adding it comprised of the world's largest LNG producing countries. At the same time, GECF Secretary General Leonid Bokhanovsky said the forum had no intention of turning into a gas cartel. Mr Bokhanovsky also said Canada and Australia could become member states of the Gas Exporting Countries Forum. He said the organisation pursued the goal of expanding its geographical presence and the number of its members. He said the gas forum was considering transforming the status of Kazakhstan and Norway as countries with the observer status into full-fledged members. The organisation's governance body would consist of Russian specialists at the first stage and would subsequently turn into an international team, he said. The GECF was established in the Iranian capital Tehran in 2001. Its charter was adopted at the seventh ministerial meeting in Moscow in 2008. -- (UNI) -- 15DF6.xml
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