The reports in the听Australian press claiming a deal between Saudi Arabia and Russia to build a new "Global Energy Body" during the G-20 Summit are not realistic, according to the experts.
Experts said that Saudi Arabia and Russia have major differences in their political and economic operations that would make such cooperation impossible.听
"A cooperation between Saudi Arabia and Russia in energy field听is a听conflict in terms of their overall political approaches," said Oktay F. Tanrisever from the Middle East Technical University. "Russia's energy ties would concern other consumer countries and that would disturb investors," 听he added.
Tanrisever said Russia's current position is already a threat听to Europe's energy security and added听"a听new establishment by Russia would increase that threat."听
Tanrisever's views were echoed by Cuneyt Kazokoglu,听an oil consultant at FGE, an international energy consultancy group based in London.听
The relations between Russia and the EU-U.S. block are not appropriate for such听cooperation, Kazokoglu said.
He said听that the听possible establishment of a new global energy body would not be more that symbolic.听"The interests of the International Energy Agency which represents OECD countries, OPEC which is headed by Saudi Arabia, and Russia are mostly听controversial. That makes听such an body a long way听from being operational."
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By Selen Tonkus and Arif Hudaverdi Yaman
Anadolu Agency
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