Iran Pushes to Transform Gas Forum into OPEC-Style Bloc

By Staff, Agencies

Iran is seeking to reshape the global gas market by turning the Gas Exporting Countries Forum (GECF) into a powerful, OPEC-style organization that could give producers greater control over prices and policy.

At the forum’s 27th ministerial meeting, Petroleum Minister Mohsen Paknejad said Tehran’s proposal to establish the Organization of Gas Exporting Countries (OGEC) has received strong backing.

The initiative, first raised in 2024, would convert the GECF from a non-binding platform into a legally empowered bloc capable of setting coordinated policies.

Iran argues that gas producers—holding over 40% of global reserves, chiefly Iran and Russia—should have more influence in shaping markets increasingly affected by sanctions and geopolitics.

The proposed OGEC would allow members to take binding decisions by majority vote, similar to OPEC’s role in oil.

Tehran’s plan also includes joint investment frameworks to shield members from Western sanctions, linking gas projects among Iran, Russia, China, and India.

Shared ownership would deter punitive measures while accelerating development of pipelines and LNG infrastructure.

Beyond economics, Iran frames gas as central to the energy transition, promoting it as the cleanest fossil fuel and a stabilizer for renewable energy systems.

If realized, OGEC could give producers a stronger voice in global energy policy, reduce market volatility, and enhance their collective leverage.

Analysts say it could also mark the most significant shift in global energy governance since OPEC’s rise six decades ago.