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Latest Business News

Russia, Qatar to Mull Natural Gas Cartel

Monday, February 12, 2007 5:14:16 PM
By DONNA ABU-NASR and JIM KRANE

RIYADH, Saudi Arabia (AP) - Russian President Vladimir Putin appeared to find quick success on a historic Mideast tour that saw the leader of energy-rich Russia forging oil diplomacy in Saudi Arabia and backing a natural gas cartel Monday with neighboring Qatar.

Putin's Middle East tour comes as Washington's stature in the Gulf is slipping and Arab monarchies are busy boosting ties outside the region, particularly in Asia. Both Qatar and Saudi Arabia have welcomed Putin despite being traditional U.S. allies.

Putin and Qatari Emir Sheik Hamad bin Khalifa Al Thani announced they would explore the creation of a natural gas cartel to represent the interests of producer countries to influence the global market.


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