Qatar forum highlights future role of energy industry - minister

10.04.2007, 20.03

CAIRO, April 10 (Itar-Tass) -- The global market of natural gas has entered into a new phase, and the major changes that have occurred on it of late are a sure sign of this, Russian Energy and Industry Minister Viktor Khristenko told Itar-Tass in the wake of the gas exporter countries’ forum, which has just ended in Qatar.

Khristenko, who has arrived in Cairo from Doha, said the Qatari forum had made a decision to create a high-level coordination group Russia will chair as the host of another such conference due in one year’s time.

“The coordinating group has been instructed to draft an agenda,” Khristenko said. “There will be some fundamental questions in focus, such as the evaluation of gas production and pricing prospects, gas infrastructure development and the identification of the tasks the forum of gas exporter countries can cope with as an organization.”

Khristenko said “Russia maintains relations with all major gas companies in the world, so contacts in the sphere of production, exploration and transportation will be developing. Businesses realized long ago that in such a global market as that of gas it is impossible to launch new major projects without sharing risks or exchanging assets.”

“Everything that has happened in Qatar, and everything that will be happening further on is evidence of the energy’s great future role,” the Russian industry and energy minister said. “Nobody will be making friends to the detriment of third parties. There must be a balance of interest and clear positions known to each other.”

Khristenko believes that “the dialogue with all participants in the energy chain – producers, transit countries, and consumers – is expected to help understand how we all together can keep the world economy going for many years to come.”

The Qatari forum made no decisions to establish a gas industry equivalent of OPEC. This possibility was a source of major concern for the main natural gas consumers – the United States and the European countries.

Source : http://www.itar-tass.com/eng/level2.html?NewsID=11420870&PageNum=0