Russia Trying to Control Global Gas Prices
2009 January 7
Early next year, the extended plant on the crest of Russia’s Far Eastern island of Sakhalin will commence producing liquefied natural gas, or LNG, a comparatively modern configuration of energy. The coming of LNG might one day allow for gas exportation countries, who assembled in Moscow last week to make a new organization, to act as a cartel along the lines of OPEC, holding sway over prices and supply, and thus consumers around the world.Nowadays, most natural gas is pumped by pipelines. Storage is hard and the cost of gas is associated to the cost of oil.
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