A 'Gas OPEC'? Mostly a Pipe Dream

Russian President Putin has spoken to Iran and Algeria about an alliance of natural-gas producers, but experts think it wouldn't work

"An interesting idea." That's what Russia's President Vladimir Putin, speaking at an annual press conference for Russian and foreign journalists on Feb. 1, called the possibility of a "gas OPEC"—an international consortium or organization that would co-ordinate gas prices the same way that OPEC regulates world oil prices. "We are already trying to coordinate our actions on the markets of third countries. And we also intend to do it in future," Putin added.

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