Putin Says Russia May Consider Forming a `Gas OPEC’

Russia, which has the world’s largest natural-gas reserves, will consider coordinating policy with other major producers of the fuel, such as Iran, President Vladimir Putin said today.

“A gas OPEC — that’s an interesting idea. We will think about it,” Putin said during an annual news conference in the Kremlin with domestic and foreign reporters. He said Russia, Iran and other major producers of the fuel should “coordinate our activities,” though they shouldn’t act as a price cartel.

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