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Forum of Gas Exporting Countries drafts its bylaws

Energy
The nations attending the Forum of Gas Exporting Countries just want to have an organization, instead of a cartel to set prices, said Venezuela's Minister of Energy and Petroleum Rafael Ramírez.

"It is not a cartel; we just defend our national interests. The purpose of the meeting is to have a more organized format," said Alexander Medvedev, of Russian state-run monopoly Gazprom.

Again, the issue of gas and Russia has been a matter of concern in the West. At long last, the representatives of 15 exporting countries, including Venezuela and Bolivia, met in Moscow and announced on Tuesday the creation of an association.

After many hours of talks, they agreed on common bylaws and elected Doha, Qatar, as the venue of the organization.


On the Cover

Domestic inflation stands at 1.7 percent

01:11 PM. Economy.
Domestic inflation rate in Venezuela was 1.7 percent in January, at the same rate as in December 2009, despite currency devaluation at the start of the year decreed by President Hugo Chávez, a senior government source told Reuters on Tuesday.

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