Russian Prime Minister Vladimir Putin said Tuesday that major gas producers have no plans to establish an international natural gas cartel and that world buyers should not worry.

Gas producers "are not creating any cartel, nor are they signing any cartel accords," Itar-Tass news agency quoted Putin assaying, referring to a proposal by Iran for forging a formal organization akin to the Organization of the Petroleum Exporting Countries (OPEC).

Senior officials from Iran, Qatar and Russia, the world's leading gas exporters, have agreed to enhance cooperation on gas markets and will hold a new round of talks later this week in the Qatari capital of Doha.

The three countries account for 56 percent of the world's natural gas reserves with Russia having 26 percent, Iran 16 percent and Qatar 14 percent. Russia and Qatar both are major gas exporters but Iran is a net importer despite its huge reserves.

Europe and the United States have warned against such a gas export body, saying it could pose a danger to global energy security and create room for price manipulation.

"We know about apprehensions and even fears voiced by certain consumers of energy resources. But I wish to state at once: there are no grounds for such fears," Putin said following talks with visiting Egyptian Prime Minister Ahmed Nazif.

Nazif pledged to further economic cooperation with Russia, inviting Russian investments in the gas and oil sectors, chemical production, the development of ports and road infrastructure, and nuclear energy.

Putin hailed the current political and economic ties with Egypt, saying bilateral trade had surged by five times in recent years.

"Egypt is one of the most privileged and, without any exaggeration, strategic partner of Russia," he said.

(Xinhua News Agency November 12, 2008)