Russia has invited OPEC countries to participate in a meeting of the gas exporting countries in Moscow on 23 December. Russia is considering options for its cooperation with OPEC – from observer status to full membership. Deputy Prime Minister Igor Sechin announced:
“...it will be only natural for us to develop such cooperation. It can take a variety of shapes – from observation to membership, from joint work on stock market floors and creation of new indicators, to the emergence of an oil bank that would establish a reliable payment system..."
"As is known, all countries that produce liquid hydrocarbons are gas producers as well, and they take great interest in the work of the Forum... All the main approaches have now been coordinated and there is understanding of what sort of documents are to be signed in Moscow. This work is identical to that in which OPEC is involved, so I would like confirm once again that no backstage deals are on the agenda. The ultimate goal is the protection of the producer countries and coordination of their work. It is a great pleasure for us to know that the relations of gas exporting countries will be formalized in Moscow”.
When asked if a future Gas Forum might decide to control production, (reports Tass), Deputy Prime Minister Sechin said, “Let us wait till December 23.”
Russia hopes for the stabilization of oil prices by the time the second pipeline of the East Siberia–Pacific Ocean carrier goes operational at the end of 2011 or the beginning of 2012, according to Mr Sechin, and while dwindling oil exports are "a serious problem for us,... for builders who create infrastructures, lower prices of metal and pipes are a great benefit. The way we see it, the implementation of transport projects is very important. They will guarantee contracts for providers and machine builders.”
“The East Siberian - Pacific Ocean carrier is to reach the Pacific coast at the end of 2011 or the beginning of 2012. We hope that as a result of our joint actions – by oil companies and OPEC partners – the market situation will have changed by then,” He pointed out that Russia’s declared intention to cut oil production by 16 million tonnes a year next year was the consolidated position of the Russian oil companies, whose chiefs were present at the OPEC conference.
The Deputy Prime Minister added that at this point it was hard to predict next year’s oil production and he was in 'no hurry' to make forecasts.
There has been no comment from the Office of the Leader and Saviour of the World.
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4 comments:
I don't see Russia signing up for any quota-based restrictions on its output determined by anyone other than Russia itself, sovereign and unilateral
not a committee type of country, Russia
now, telling Qatar what to do is another kettle of fish altogether ...
(wv, bizarrely, = prose (sic))
No response from the Moron-in-Chief, but I was delighted by Opec's response to him bullying them - to tell him that he is "confused" and to cut fuel tax if he wants lower fuels prices. What shame he brings on us.
It's the size of Russia that keeps boggling the angelic mind, ND.
Permanent observer status is what they say they would like, with:
"..a joint working group of the OPEC Secretariat and the Russian Energy Ministry, which is to formulate agreed approaches with the aim of resolving the most important problems of the world oil industry requiring our cooperation,” (Mr Sechin).
Just what you say - no restrictions other than what they decide for themselves. Full and frank exchanging of views on a semi-formal basis though. And for gas too.
Bombast is so unatttractive, E, but when it's coupled with innate dishonesty, stupidity, emotional incomprehension, economic failure, shaking your wife's hand, and public nose-picking it just makes up another part of the portrait that has escaped from the attic.
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