German natural gas company E.ON Ruhrgas AG's Chief Executive Bernhard Reutersberg Wednesday said long-term supply contracts mean an OPEC-style organization for gas exporting countries isn't too much of a worry.
Iran, Qatar and Russia have agreed to form such an organization, the Islamic Republic's oil minister said Tuesday after a trilateral meeting in Tehran.
E.ON Ruhrgas's CEO told reporters on the margins of a gas conference that he is "not really" troubled by the news, citing "long-lasting" contracts and fixed price formulae.
Reutersberg alluded to a supply deal with Russia he said lasts until 2036.
Ruhrgas, the natural gas arm of utility E.ON AG (EOAN.XE) is Germany's largest gas importer by volume.