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Iran Pressing Russia Over Plan for OPEC-Like Gas Body

Posted by Matt in January 31st, 2007

Moscow (CNSNews.com) - Iran is urging Russia to launch a gas exporting grouping similar to the Organization of Petroleum Exporting Countries (OPEC), but Moscow has yet to throw its support behind the controversial idea.

Iran’s supreme leader, Ayatollah Ali Khamenei, announced that Iran was prepared to cooperate with Russia to create a gas cartel.

“Iran and Russia can establish the structure for an organization of gas cooperation like OPEC as half of the world’s gas reserves are in Russia and Iran,” Iranian state television quoted Khamenei as saying.

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