World gas cartel may become reality
28 Mar, 2007 02:24
On April 9, gas-rich countries are due to meet in the Qatar's capital, Doha, to discuss the possible creation of a gas cartel. But EU Trade Commissioner Peter Mandelson says such a move would send the wrong signal to consumers.
“When people talk about cartels they usually mean supply is gaining up in order to take advantage of their dominance or power in the market. I do not think that is the right signal for gas suppliers to be sending. Not only does it make consumers insecure and affects their behaviour which in turn has a knock on effect on the behaviour and insecurity of suppliers. It is much better to find mutual, clear, beneficiary trade groups that govern the sale and supply of all goods, including energy goods and in this case – gas,” commented Mr Mandelson.