Join now
Log in Join

Should the world worry about a gas cartel?

Hundreds of thousands of homes in Europe remain without heating amid plunging temperatures as a gas row between Russia and Ukraine continues.
There are suggestions that the gas producers could develop an organisation that could eventually set prices like the Opec oil cartel.

However, industry analysts say technical differences between the oil and gas markets make it unlikely for now that gas exporters will set Opec-style quotas.

The EU gets 42% of its gas imports from Russia, mostly via pipelines across Ukraine.

Could this signal the beginning of a gas cartel? How much power do gas exporting countries have? How would this affect energy prices worldwide?