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Russia, Qatar to boost cooperation

The Qatari Emir Sheikh Hamad bin Khalifa Al Thani arrived in Moscow on Tuesday to meet the Russian Prime Minister Vladimir Putin and discuss the prospects of developing cooperation between the two countries. The VOR`s Eugene Kryshkin reports…

 Qatar is a prosperous country of the Persian Gulf. It earns more than 70% of its budget from oil and gas production, making it one of the world`s leading countries in terms of GDP rate.

In recent years Qatar has been considering a possibility to invest more in non-energy countries. Qatar’s businessmen have been demonstrating their interest in joint development of gold and copper fields abroad. They have recently achieved an agreement with Russia to invest $ 500 million in the “Industrial Ural” project. A framework agreement is due to be signed during Mr. Al Thani`s stay in Moscow.

Russia and Qatar saw a boost in bilateral relations in 2007 after Mr. Putin – the Russian President at the time – visited the country. Then the sides agreed to stimulate and protect each other’s investments, and also signed a memorandum of understating between the Russian LUKOIL and Qatar Petroleum.

However, gas industry remains the most prospective area for the Russia-Qatar cooperation, says Konstantin Simonov, director general of the National Energy Security Foundation.

Russia has the world’s largest gas reserves – between 21% and 25%, according to different estimates. Qatar ranks third and has been actively negotiating with Russia on ways of advancing the forum of gas exporting nations set up on Russia’s initiative. Gas is a thing that unites us.

Gas producers want stability and do not want unnecessary shocks on the gas market. Meeting with Sheikh Hamad bin Khalifa Al-Thani on Tuesday, Prime Minister Vladimir Putin welcomed Qatar’s initiative to host a summit of gas exporters to draw up a long-term supply strategy.

They also discussed situation in the Middle East and prospects for the resumption of the Israeli-Palestinian dialogue. Both Russia and Qatar have been playing an active part in the Middle East settlement.

Yevgeny Kryshkin

The Voice of Russia, November 02, 2010


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