Gas Exporting Countries Forum (GECF)

AAA

DEFINITION of 'Gas Exporting Countries Forum (GECF)'

An organization of the world's leading gas producers that was established in 2001 to represent and promote their mutual interest. GECF members collectively hold more than 70% of the world's natural gas reserves. As of 2010, the GECF has 11 regular members - Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad & Tobago and Venezuela. It also has three members with observer status - Kazakhstan, Netherlands and Norway.

INVESTOPEDIA EXPLAINS 'Gas Exporting Countries Forum (GECF)'

Given that a number of GECF members also belong to OPEC, there has long been speculation about the organization becoming a "Gas OPEC." However, some observers believe that the fundamental differences in the two organizations, as well as the fact that crude oil and natural gas are very different commodities, may hinder the formation of GECF into a gas cartel along the lines of OPEC.

RELATED TERMS
  1. Middle East and North Africa - ...

    A region encompassing approximately 22 countries in the Middle ...
  2. Organization Of Arab Petroleum ...

    An inter-governmental organization based in Kuwait that seeks ...
  3. Crude Oil

    A naturally occurring, unrefined petroleum product composed of ...
  4. Liquefied Natural Gas

    The liquefied state of natural gas, which is created by cooling ...
  5. Cartel

    An organization created from a formal agreement between a group ...
  6. Organization Of Petroleum Exporting ...

    An organization consisting of the world's major oil-exporting ...
Related Articles
  1. A Guide To Investing In Oil Markets
    Options & Futures

    A Guide To Investing In Oil Markets

  2. Meet OPEC, Manager Of Oil Wealth
    Economics

    Meet OPEC, Manager Of Oil Wealth

  3. Main Characteristics of Capitalist Economies
    Economics

    Main Characteristics of Capitalist Economies

  4. Understanding World Bank Data
    Investing

    Understanding World Bank Data

comments powered by Disqus
Hot Definitions
  1. Halloween Massacre

    Canada's decision to tax all income trusts domiciled in Canada. In October 2006, Canada's minister of finance, Jim Flaherty, ...
  2. Zombies

    Companies that continue to operate even though they are insolvent or near bankruptcy. Zombies often become casualties to ...
  3. Witching Hour

    The last hour of stock trading between 3pm (when the bond market closes) and 4pm EST. Witching hour is typically controlled ...
  4. October Effect

    The theory that stocks tend to decline during the month of October. The October effect is considered mainly to be a psychological ...
  5. Repurchase Agreement - Repo

    A form of short-term borrowing for dealers in government securities.
  6. Correlation

    In the world of finance, a statistical measure of how two securities move in relation to each other. Correlations are used ...
Trading Center