MOSCOW, Nov. 3 (UPI) -- Russian energy company Gazprom is examining a joint venture with Qatar for cooperation in the European and Asian markets, the company said.
Qatar has the third-largest natural gas reserves in the world. Gazprom could play a role in developing the country's North Field gas complex in the Persian Gulf after the country finalizes the development considerations at the field, the company said.
Gazprom officials are discussing teaming with Qatar to expand their reach into foreign markets, Russia's state-run news agency RIA Novosti reports.
"In particular, the parties discussed possible joint investment projects between Gazprom and Qatar Petroleum as well as cooperation on the markets in Europe and the Asia-Pacific region," the company said.
Russia, Iran and other leading natural gas producers had their first ministerial meetings for the Gas Exporting Countries Forum in Tehran in 2001. It was established as a forum to boost cooperation among member states similar to its oil counterpart, the Organization of the Petroleum Exporting Countries.
In early 2010, Russian Prime Minister Vladimir Putin said during a Moscow meeting with officials from GECF member Qatar that the consortium would be an effective tool to coordinate the natural gas markets.
