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Russia hosts gas exporters summit | Russia hosts gas exporters summit |
(20 minutes later) | |
Ministers from more than 10 gas-exporting countries have gathered in Moscow to discuss closer co-operation. | |
Countries represented include Iran and Libya, as well as Russia - all members of the Gas Exporting Countries Forum. | |
The gathering in the Russian capital has led to suggestions that they want to set up an organisation similar to the oil producers' cartel, Opec. | |
Russian officials said delegates would agree on a charter that would make the GECF a more formal organisation. | |
A number of issues would be on the agenda, including possible future cuts in gas production and the effect of lower oil prices, they added. | |
Russian Prime Minister Vladimir Putin will attend the forum, while President Dmitry Medvedev will host a dinner for delegates at the Kremlin. | |
There are concerns among gas-importing nations that the GECF could eventually set quotas for gas in the same way as Opec does for oil. | |
However industry analysts say technical differences between the oil and gas markets make that unlikely for now. | However industry analysts say technical differences between the oil and gas markets make that unlikely for now. |
The meeting comes as Russia remains locked in a dispute with Ukraine over non-payment of debts. | |
The Russian gas company, Gazprom, says Ukraine owes it $2bn (£1.4bn) and has warned it may cut off gas supplies next month if the dispute remains unresolved. | |
A similar dispute three years ago saw Russia briefly cutting gas deliveries to its neighbour, action that also affected supplies to several western European countries. |