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Russia hosts gas exporters summit Putin says 'cheap gas era' ending
(about 1 hour later)
Ministers from the world's major gas-exporting countries have gathered in Moscow to discuss closer co-operation. The era of cheap gas is coming to an end, Russia's Prime Minister Vladimir Putin has told ministers from the world's major gas-exporting countries.
Countries represented include Iran and Libya, as well as Russia - all members of the Gas Exporting Countries Forum. Iran and Libya are among the countries attending the Gas Exporting Countries Forum (GECF) in Moscow.
The gathering has led to suggestions that they want to set up an organisation similar to the oil producers' cartel, Opec. Mr Putin said the cost of extracting gas was rising sharply, therefore "the era of cheap energy resources, of cheap gas, is of course coming to an end".
It will be closely watched by consumer nations who fear such a move could push up energy prices. Some observers say the GECF may develop into an Opec-style producers' cartel.
Mr Putin said Russia was ready to set up the GECF headquarters in St Petersburg and give it full diplomatic status.
The EU gets 42% of its gas from Russia, mostly via pipelines across Ukraine. The Moscow meeting comes amid growing concern that a new contract dispute between Russia's gas giant Gazprom and Ukraine could disrupt gas supplies to Europe this winter.
The GECF will be closely watched by consumer nations who fear any move to copy the Opec oil cartel could push up energy prices.
Fears over energy security mean a formal organisation of gas exporting countries would be deeply unpopular in Europe and the US.Fears over energy security mean a formal organisation of gas exporting countries would be deeply unpopular in Europe and the US.
It is feared that such an organisation could hold a monopoly on world supply and set prices to suit its own needs.It is feared that such an organisation could hold a monopoly on world supply and set prices to suit its own needs.
The meeting also comes amid growing concern that a long-running row between Russia and Ukraine could disrupt supplies to Europe this winter.
'Protecting producers''Protecting producers'
The countries attending are Algeria, Bolivia, Brunei, Egypt, Indonesia, Iran, Libya, Malaysia, Nigeria, Qatar, Russia, Trinidad and Tobago, the United Arab Emirates and Venezuela. Equatorial Guinea and Norway are attending as observers.The countries attending are Algeria, Bolivia, Brunei, Egypt, Indonesia, Iran, Libya, Malaysia, Nigeria, Qatar, Russia, Trinidad and Tobago, the United Arab Emirates and Venezuela. Equatorial Guinea and Norway are attending as observers.
It is not ruled out that the current position of the Ukrainian side... could lead to disruptions in the stability of gas supplies to Europe Viktor Zubkov ,Gazprom chairman Q&A: Why EU needs Russian gasIt is not ruled out that the current position of the Ukrainian side... could lead to disruptions in the stability of gas supplies to Europe Viktor Zubkov ,Gazprom chairman Q&A: Why EU needs Russian gas
Russian Prime Minister Vladimir Putin will attend the forum, while President Dmitry Medvedev will host a dinner for delegates at the Kremlin. Russian officials said delegates would agree on a charter that would make the GECF a more formal organisation based in St Petersburg.
Russian officials said delegates would agree on a charter that would make the GECF a more formal organisation headquartered in St Petersburg.
Issues including possible future cuts in gas production and the effect of lower oil prices are also likely to be on the agenda, says the BBC's James Rodgers, in Moscow.Issues including possible future cuts in gas production and the effect of lower oil prices are also likely to be on the agenda, says the BBC's James Rodgers, in Moscow.
There are concerns among gas-importing nations that the GECF could eventually set quotas for gas in the same way as Opec does for oil. Industry analysts say technical differences between the oil and gas markets make it unlikely for now that gas exporters will set Opec-style quotas.
But industry analysts say technical differences between the oil and gas markets make that unlikely for now.
At the weekend, Russian Deputy Prime Minister Igor Sechin said the forum was "not about any collusion".At the weekend, Russian Deputy Prime Minister Igor Sechin said the forum was "not about any collusion".
"We are talking about protecting the interests of (gas) producing countries, about co-ordinating their work," he said."We are talking about protecting the interests of (gas) producing countries, about co-ordinating their work," he said.
Ukraine rowUkraine row
At the moment Russia remains locked in a dispute with Ukraine over non-payment of debts.At the moment Russia remains locked in a dispute with Ukraine over non-payment of debts.
The Russian gas company, Gazprom, says Ukraine owes it $2bn (£1.4bn) and has warned it may cut off gas supplies next month if the dispute remains unresolved. Russia's Gazprom says Ukraine owes it $2bn (£1.4bn) and has warned it may cut off gas supplies next month if the dispute remains unresolved.
Russia supplies about a quarter of Europe's gas needs, and about 80% of Russian gas exports to Europe flow through Ukraine.
On Monday, Gazprom said it had warned European customers about possible disruption linked to the Ukraine dispute.On Monday, Gazprom said it had warned European customers about possible disruption linked to the Ukraine dispute.
"It is not ruled out that the current position of the Ukrainian side and some of its actions could lead to disruptions in the stability of gas supplies to Europe," Gazprom Chairman and First Deputy Prime Minister Viktor Zubkov said in a statement."It is not ruled out that the current position of the Ukrainian side and some of its actions could lead to disruptions in the stability of gas supplies to Europe," Gazprom Chairman and First Deputy Prime Minister Viktor Zubkov said in a statement.
A similar dispute three years ago saw Russia briefly cutting gas deliveries to its neighbour, action that also affected supplies to several western European countries.A similar dispute three years ago saw Russia briefly cutting gas deliveries to its neighbour, action that also affected supplies to several western European countries.