Europe would have to rethink its energy policy if Russia, Iran and Qatar go ahead with an OPEC-style cartel on natural gas, the European Commission warned Wednesday. EU spokesman Ferran Tarradellas Espuny said the European Union preferred to see gas traded on a free and transparent market. He said the EU executive was not opposed to energy suppliers cooperating more closely on research but was opposed to price-fixing cartels in principle. “If such a cartel was created, the Commission may review its energy policy,” he said, refusing to give details of what that would mean in real terms. He said the EU also expected the three countries to inform it if they do form a cartel. EU nations are already investing in alternative and cleaner energy sources like wind and solar power to meet future energy needs as part of efforts to combat climate change. They are also considering building new nuclear power plants. Russia, Iran and Qatar made the first serious move toward forming a cartel with a meeting Tuesday. Together, they account for 60 percent of the world's gas reserves. This raised fears in Europe that the cartel would boost Moscow's use of energy as a political weapon. Russia has previously cut EU pipeline supplies temporarily in disputes with neighbor Ukraine.
