Phoenix Voices Cartel Concern
10th November 2008
Phoenix Natural Gas today revealed it has written to Mike O’Brien, the Minister of State for the Department for Energy and Climate Change, calling on the government to vigorously oppose the formation of a natural gas cartel.
The move came after the Russians, Quataris and Iranians met in Tehran on 21st October 2008 to discuss setting up a natural gas cartel, similar to the much-maligned oil-based Organisation of Petroleum Exporting Countries ('OPEC').
Sir Gerry Loughran, Chairman of Phoenix Energy Holdings, said:
"The establishment of a natural gas cartel, like OPEC, may give rise to artificially inflated wholesale prices which would not be in the interest of consumers.
We trust the Government will use every means at its disposal to oppose the establishment of a gas cartel which will be damaging not only to Northern Ireland, but also the rest of the United Kingdom, Ireland and the European Union".