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MOSCOW, July 1 (Itar-Tass) - Russian President Vladimir Putin will play host to the leaders of the Forum of Gas Expoting Countries (FGEC) in the Kremlin here on Monday. During the two-day summit, the leaders of delegations are to fix ways for a further coordination of actions on the world market of gas.
Presidential aide Yuri Ushakov pointed out, "The balanceness of the levels of demand and supply (of gas) on the world market, as well as global energy security as a whole depend in many respects on the coordinated actions of participants in the Forum".
"The leaders are to discuss prospects for the development of the gas market, matters aimed at stimulating the use of this type of resources, and possible coordinated moves to uphold the interests of gas exporting countries," he said.
"It is expected that a Joint Declaration will be adopted as a result of discussion to reflect FGEC countries' principled approaches on priority matters concerning the development of the gas market," Ushakov said.
The presidential aide also annonounced that at the close of the working programme of the first day of summit proceedings, during which Putin as the host of the session will address the participants in the summit, the leaders will be invited to the Moscow race-course to watch races for the Prize of the President of Russia, as wells to a ceremonial reception in honour of the guests of the FGEC summit.
During the summit, the races, and the reception the leaders of delegations will have an opportunity for informal contacts, Ushakov said. In particular, the Russian leader will socialize with Abdelkader Bensalah, President of Algeria's Council of the Nation, President Teodoro Obiang Nguema Mbasogo of Equatorial Guinea, and, possibly, other leaders of delegations who will arrive at the FGEC summit.
On July 2, Putin is to hold separate meetings with President Nicolas Maduro of Venezuela, President Mahmoud Ahmadinejad of Iran, who will resign his powers on August 3 and pass them over to the newly elected president Hassan Rouhani.
The Russian leader will also have conversations with Prime Ministers Nouri al-Maliki of Iraq and Ali Zeidan of Libya, as well as with President Evo Morales of Bolivia.
RF Deputy Minister of Energy Anatoly Yanovsky said the summit had been preceded by a ministerial meeting of FGEC countries on Saturday, with the Ministers reviewing the results of of the Secretariat's work, mapping out further steps to develop the FGEC and discussing a draft Declaration to be adopted at the summit. He also emphasized that, along with FGEC member-countries, invited to the summit have been international organizations such as the International Energy Forum, OPEC, and Intenrational Energy Agency (IEA). "We are using the summit for work with gas producing countries as well, since IEA represents this sector," he pointed out.
For his part, Leonid Bokhanovsky, FGEC Secretary-General, expressed hope that "The coordinating role of the Forum will grow stronger and the Summit will be yet another step in that direction".
Bokhanovsky recalled that the linkage of gas prices to the basket of petroleum products, as well as long-term contracts as a market stability factors are the key aspects for FGEC. "We hope that these two main premises will be reaffirmed during the summit," he said.
In response to journalists' quesions, Bokhanovsky said the theme of shale gas production is contemplated. However, he "would not speak of a shale revolution". ""As far as expansion of shale gas is concerned, the matter is under discussion; no decision on it has been taken so far," the FGEC Secretary-Genera recalled. "It is a big question mark as to when shale gas will begin massively to get supplied to the market," he believes.
Yanovsky -- who supported Bokhanovsky's remark that FGEC does not visualise at this stage any danger from the advent of shale gas -- pointed out that "the shale gas theme will be, naturally, discussed at the summit".
When speaking of the summit agenda, Bokhanovsky said no decision on new members of FGEC would be taken at the summit. "Negotiations are currently underway with a number of states: one Latin American country and two from Southeast Asia.However, as long as the negotiating process is evolving, it is premature to name those states," he pointed out. FGEC members are the following countries: Algeria, Bolivia, Equatorial Guines, Iran, Libya, Nigeria, Oman, Qatar, Russia, Trinidad and Tobago, the United Arab Emirates, and Venezuela. Norway, Iraq, the Netherlands, and Kazakhstan have the status of observers.
Neither will the establishment of a FGEC Bank be brought up for discussion at the summit. "This initiative is being discussed routinely. The working out of the idea is being continued at experts' level and is not yet over," Bokhanovsky said.