Russia to Propose Gas OPEC Charter

Russian proposals to create a "gas OPEC" will come under scrutiny at a meeting of officials from gas-producing countries in Tehran next week, Kommersant reported Monday.

Russia wants 15 member states of the Gas Exporting Countries Forum to adopt a charter that will allow them to hammer out a universal pricing formula, coordinate construction of new pipelines and use spot deliveries to compensate for possible shortfalls in long-term supply contracts, the report said, citing a government source. Russia's draft charter is less stringent than a proposal by Iran, Kommersant said.

Energy officials representing member countries will meet in Tehran on April 28, the paper said. Ministers from those countries will meet in Moscow in June, it said.

Gazprom and the Industry and Energy Ministry drew up the proposals, Kommersant said.