Invest in Europe? It depends on this: Experts

Russia, Iran and Qatar energy delegations seated at meeting.
2. Close-up of Alexei Miller, primary executive officer of Russia’s state gas monopoly OAO Gazprom.
3. Wide of Russian delegation.
4. Close-up of Gholam Hossein Nozari, Iranian Oil Minister in conference.
5. Mid of Iranian and Qatari delegations.
6. Qatari Oil Minister, Abdullah Bin Hamad al-Attiya in meeting.
7. Wide of Qatari delegation.
8. Zoom from Iran, Russia and Qatar energy authorities walking to podiums.
9. SOUNDBITE (Farsi) Gholam Hossein Nozari, Iranian Oil Minister:.
“The 3 huge nations, who possess the gas reserves, are interested in pursuing the development of an organisation of gas exporting countries.”.
10. Wide of news conference.
11. SOUNDBITE (Arabic) Abdullah Bin Hamad al-Attiya, Qatari Oil Minister:.
“The execution of gas projects will be counted as a terrific back-up for the political ties between the three countries.”.
12. Wide of news conference.
13. SOUNDBITE (Russian) Alexei Miller, chief executive officer of Russian gas exporter Gazprom:.
“Thinking about the strategic interests of three countries relating to gas as well as the potential and storage capacities of the three nations in the gas industry, as well as taking into account that Russia, Iran and Qatar have 3 fifths of the world’s gas reserves, we chose to keep in arranged and tight touch with each other in the future.”.
14. Iran, Russia and Qatar energy authorities leaving news conference.
15. SOUNDBITE (Farsi) Gholam Hossein Nozari, Iranian Oil Minister:.
“Due to the demand conditions and the oil storage that we have, our company believe that cutting the production in between 2 and 2.5 barrels (per day) can stabilise the (oil) market.”.
16. Miller and al-Attiya embracing at goodbye.
17. Wide outside of conference hall.
STORYLINE.
Iran, Russia and Qatar went over the formation of an OPEC-style cartel amongst some of the largest natural gas producing nations on Tuesday, a possibility that has actually unnerved energy-importing nations in Europe and the United States.
The conference appeared to be the first major talks about the production of such a cartel since Iran’s supreme leader, Ayatollah Ali Khamenei, very first raised the idea in January 2007.
The possibility has raised concern in the United States and around the 27-nation European Union, which depends on Russia for almost half of its natural gas imports.
Moscow, which manages many of the European pipelines delivering gas from Russia and Central Asia, currently has a tight hang on products.
European Union leaders have actually said they would stand against any Russian effort to produce a gas cartel, fearing energy rates, and Russia’s political influence, might rise even more as a result.
Iranian Oil Minister Gholam Hossein Nozari stated Tuesday that the 3 countries with the largest natural gas reserves will “seriously pursue the development of an organisation of gas exporting countries.”.
Nozari spoke on state TELEVISION after a conference with his Qatari counterpart, Abdullah Bin Hamad al-Attiya, and the head of Russia’s state-controlled energy company Gazprom, Alexei Miller.
He said the three parties chose to discuss the cartel further at the next conference of their international ministers.
Many specialists say a gas cartel that resembles the Organisation of Petroleum Exporting Countries (OPEC) group would be tough to attain.
Unlike oil, which is traded on an exchange that continuously updates the marketplace cost based upon supply and need, most gas is sold under tight agreements that allow buyers to lock in prices for up to 25 years.
As a result, a cartel would likely have little influence.
Pipeline facilities likewise requires significant financial investment that typically makes long-term agreements essential.

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