Russia and Qatar strive for energy cooperation

President Medvedev and other Russian leaders held talks in Moscow on Wednesday with Qatar's Prime Minister Hamad bin Jassem Al Thani. Both Russia and Qatar are leaders on the global natural gas market and are among the top three in gas reserves. And both are among the main players of the Organization of Gas Exporting Countries, which unites 15 countries which account for more than 50% of the known gas reserves. Coordinated effort from members of the forum is crucial for global stability, energy security and for exporters, transit countries and consumers. Konstantin Simonov is the General Director of the Russian Energy Security Foundation. "The Organization of Gas Exporting Countries is widely expected to brush aside formal talk in favor of analytical and market research. It's important to respond to the pressure on Russia from gas buyers in Europe who are interested in lower prices".

Given the circumstances, Russia and Qatar are ready to cement cooperation within the gas exporters forum. Cooperation between gas exporting countries is expected to stabilize gas markets, prevent price competition and establish a mutually beneficial dialogue between exporters and consumers. It's of strategic importance then to transform the Organization of Gas Exporting Countries into an efficient coordinator of gas producing nations.

26.03.2010