The era of cheap gas is coming to an end, Russian Prime Minister Vladimir Putin said Tuesday, while proposing to establish a permanent organization of world gas producers.
Despite the global financial crisis and a slowing world economy, the era of cheap energy, including cheap gas, is coming to an end, the Interfax news agency quoted Putin as telling an international meeting of gas producers.
Putin said a shift in gas production areas will make energy more costly as major gas producers and consumers are located further apart.
He suggested the Gas Exporting Countries Forum (GECF) become a regular organization and base its headquarters in Russia's second largest city of St. Petersburg.
The GECF, a loose gas exporters' body which has been meeting since 2001, groups Russia -- the world's biggest gas producer -- and 11 other gas exporting countries.
Earlier this year, Russia, Iran and Qatar, which together account for nearly a third of the world's natural gas export, agreed to form a "gas troika" similar to the Organization of Petroleum Exporting Countries for joint exploration and production.
Source:Xinhua
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