Putin warns of gas price rises
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Russia's Prime Minister Vladimir Putin has told a meeting of the world's gas-selling countries that "cheap energy, cheap gas, is of course coming to an end". He was speaking at the Gas Exporting Countries Forum (GECF) in Moscow, Russia. The organisation's members are the countries which sell most of the world's gas, such as Iran, Libya, Malaysia, Nigeria, Qatar, Russia, the United Arab Emirates and Venezuela.
Putin said that because there is less natural gas in the world, it is more difficult and expensive for these countries to provide gas, and Putin says this will mean higher prices for consumers. Experts think that in the next few months the price of gas will probably go down, but Putin's words will make some European and in particular some ex-Soviet countries that depend on Russia for their gas very nervous.
The GECF has recently agreed to have its base in Saint Petersburg in Russia, and it seems that it will become an important player in the energy market. It denied that it is a cartel, similar to Opec, the organisation of the world's main oil suppliers, which has the power to decide how much oil is produced so it can control worldwide oil prices. Venezuelan Energy Minister Rafael Ramirez agrees that there are similarities between the GECF and Opec, but said that: "It's not a cartel. We are defending the interests of our countries, that's all."
Have you have finished reading the article? Now try and answer these questions:
1) Which countries does GECF represent?
Countries that....... (a)sell gas (b)buy gas (c)sell oil
2) Has GECF agreed on where to have its base?
(a)No, not yet (b)Yes, in Venezuala (c)Yes, in Russia
Here are the answers:
1) a - Countries that sell gas - "The organisation's members are the countries which sell most of the world's gas"
2) c - Yes, In Russia - "The GECF has recently agreed to have its base in Saint Petersburg in Russia"
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