ABSTRACT

Gas Exporting Countries Forum (GECF): Cartel Lite? [August 2, 2018]   [open pdf - 339KB]

"From 2013 and 2017, global natural gas production and consumption grew about 9%. However, as part of the overall fuel mix, which rose 5%, the contribution of natural gas has declined 1 percentage point to 23% during the same time period, because renewable energy grew more. The Gas Exporting Countries Forum (GECF) was founded in 2001 for the purpose of maximizing the value of natural gas; developing short-, medium-, and long-term analysis and forecasting; facilitating cooperation on issues of common interest among members; promoting natural gas as a fuel; and positioning the GECF as an internationally recognized organization. Members of the GECF--Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, United Arab Emirates, and Venezuela (seven GECF members, italicized above, are also members of the Organization of the Petroleum Exporting Countries [OPEC])--hold about 62% of the world's natural gas reserves, control about 38% of production, and supply 43% of exports."

Report Number:
CRS In Focus, IF10939
Author:
Publisher:
Date:
2018-08-02
Copyright:
Public Domain
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Via E-mail
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pdf
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application/pdf
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