Gas giants to hold talks on cooperation

Tehran: Energy powers Iran, Russia and Qatar will hold talks tomorrow in Doha on gas cooperation, Iranian gas officials said onon Monday.

Russia, Iran and Qatar - which are respectively ranked first, second and third in the world in terms of gas reserves - agreed to boost coordination at a meeting in Tehran last month.

After the meeting, Iran said there was consensus to set up a gas grouping like the Organisation of Petroleum Exporting Countries (Opec), drawing criticism from the European Union which opposes any group that could act like a cartel.

Russia referred to a "big gas troika", which should become a permanent body holding regular meetings.

Analysts say a gas body would not be able to turn gas taps on and off as Opec does with oil, but could share insights on upstream contract terms as it deals with gas investors.