An Empirical Investigation on Financial Performance

OPEC is also an important and growing force in the world gas market OPEC holds some 42 percent of world¿s proven gas reserves, yet it currently produces only 14 percent or so of the world¿s requirements. OPEC Member Countries, particularly those in the Middle East, are among the world¿s largest repositories of natural gas. In contrast, the largest non OPEC gas reserve is to be found in the former Soviet Union, which does not have a geographical advantage in exporting its gas. Logic therefore dictates that OPEC has significant scope to substantially increase that its production and share of the gas market over the medium to long term.