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News // Russia

Russian President: We Won't Compete with Iraq

13 February 2007 , 11:12531
Russian President Vladimir Putin said on Monday that he does not reject the idea of creating an "OPEC-style" gas cartel.

After talks with Qatari Emir Sheikh Hamad bin Khalifa al-Thani, Putin said the two gas-rich countries are not competing in the market as the gas markets of Russia and Qatar are "separated".

He added that Qatar, the world's third largest gas reserves after Russia and Iran, was of special interest to Russia.

Meanwhile, Putin said his country will send a delegation to attend a conference of gas producers to be held in Qatar this April, during which details of setting up a possible gas alliance would be mulled.

The Qatari Emir, for his part, said that the difference between Organization of Petroleum Exporting Countries and a gas cartel is that OPEC can raise or cut the price, but gas contracts are made for long terms.

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