"A gas Opec is an interesting idea. We're going to think about it," Putin said. "At the first stage we are in agreement with Iranian specialists, with Iranian partners, with several other countries that extract and deliver hydrocarbons , above all gas."

Russia's massive gas resources -- nearly 30 percent of known world reserves and 20 percent of world gas production -- has raised fears in the West that it may gain further leverage over energy consumers by coordinating supplies with other gas-rich nations such as Iran and Algeria.