The Russia-Iran alliance wants as much control as possible over the two crucial components of the global supply matrix: gas supplied over land via pipelines and gas supplied via ships in liquefied natural gas (LNG), and so they are moving to create a global natural gas cartel.
The US$40 billion Memorandum of Understanding (MoU) between Gazprom and the National Iranian Oil Company (NIOC) that was signed last month is a first step toward enabling Russia and Iran to carry out their long-standing plan to be the main players in a global cartel for gas suppliers, similar to the Organization of the Petroleum Exporting Countries (OPEC) for oil suppliers. This "Gas OPEC" would enable the coordination of a remarkable amount of the world's gas reserves and control over gas pricing in the upcoming years, building on the existing Gulf Exporting Countries Forum (GECF). The two nations are in a perfect position to do this as they hold the top two spots in the list of the largest gas reserves ...
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