Russia and the ‘Gas-OPEC’. Real or Perceived Threat?

Summary:

The threat of a gas-OPEC, waved around by certain big producers, has given rise to much fear in consuming countries. The behavior of Russia, a key exporter, has made it seem as though gas sales could be used as a political weapon. In truth, the creation of an entente between exporting countries is not technically feasible. What is more, Russia remains reticent to join any association in order not to limit its room for maneuver. Seeking to dominate the world market, it has singed a certain number of agreements with other big producers. Nevertheless, the capitalistic constraints of the gas market jeopardize the chances of long-term coordination, which is incompatible with short-term political interests.

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