Top officials of major gas-producing countries acknowledged at a recent gathering in Bolivia that expanding supplies of the fuel are giving global buyers greater sway over purchase and contract terms. The Gas Exporting Countries Forum (GECF), which aspires to be the OPEC (Organization of the Petroleum Exporting Countries) for natural gas suppliers, drew energy ministers from Qatar, Iran, Russia and Venezuela to Santa Cruz, Bolivia as market oversupply reduces revenues. These countries increasingly are competing with exports from and prices set in the United States, which is on track to become the world's third-largest exporter of LNG after Qatar and Australia. At least 25 countries are now capable of receiving LNG supplies and new regasifica-tion plants are expected to start operating in the coming months, giving buyers even greater flexibility and increasing competition for suppliers.
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