Theoretical Framework Explaining the Necessity of Establishing an Organization of Gas Exporting Countries - OGEC in the Global Political Economy

Energy exchange is one of the areas where we can see signs of economic globalization; especially in regards to actor's compliance with each other’s decisions as well as forces and norms of global markets. There is a deep interdependency between the national interests, security and development of global actors in regards to energy; both now, and in the future. No powerful actor can adopt a unilateral approach to the oil and gas market. Thus, the integration of natural gas-producing countries within the framework of an international institution is very important and necessary. Co-decision making in a harmonious manner to ensure stability and market security in a way that is in the interest of all actors is inevitable.