Russia, Iran and Qatar poised to corner the world gas market

Reuters reports:

TEHRAN, Oct 21 (Reuters) – World gas powers Russia, Iran and Qatar moved on Tuesday to strengthen cooperation and Tehran said there was consensus to set up an OPEC-style group which is likely to worry Western consumer nations.
Russia, Iran and Qatar are ranked the first, second and third biggest holders of natural gas reserves in the world and together boast more than half of the global total.

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If successful, the ramifications of such a development can become staggering. Russia has been known to exert pressure to its neighbours through cutting gas exports — particularly in late autumn –; once it becomes capable of pulling that trick off to Western Europe, it can do a lot more than a teenie-weenie invasion without any danger of political retaliation.

Gas supplies of the world are quite limited. The only stable solution to this threat is to develop alternative energy sources, particularly nuclear energy.

One Reply to “Russia, Iran and Qatar poised to corner the world gas market”

  1. Germany’s waffling with NATO policies because of fear of energy shortages is proof enough of that. This is a story worth following closely

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