Russia look to control world's gas prices »
Posted By ekklesiawarrior 10 months, 2 weeks ago in Science & TechnologyPlan for 'gas Opec' could tighten Prime Minister Vladimir Putin's grip on Europe's gas supplies.
Early next year, - the sprawling plant on the tip of Russia's Far Eastern island of Sakhalin begins producing liquefied natural gas, or LNG, a relatively new form of energy.
The advent of LNG may one day allow gas exporting countries, who gathered in Moscow last week to create a new organisation, to act as a cartel along the lines of Opec, holding sway over prices and supply, and thus consumers around the world.
Today, most natural gas is pumped through pipelines. Storage is difficult and the price of gas is linked to the price of oil.
Producers, like Russia's Gazprom, set prices within decades-long contracts, typically lasting 25 years.
LNG changes all that. To make LNG, the gas is frozen into a liquid form, allowing it to be stored in tanks and shipped around the world, just like oil. And priced just like oil, too.
Read Full Story at telegraph.co.uk »
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ekklesiawarrior10 months, 2 weeks ago
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The headline title may have confused some folks.
What Americans often refer to as "gas' the short term for GASOLINE. The Europeans call this "PETROL".
What the European and article refer to here is 'gas' as what burns a gas fire. Here Russia has modernized natural gas transport in Liquid Natural Gas, LNG.
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