Putin urges global gas cooperation amid rising Middle East tensions

Leaders gather in Moscow on Tuesday for the Gas Exporting Countries Forum where discussions focused heavily on the intensifying supply disruptions and regional geopolitical tensions, with Russian President Vladimir Putin adding there was a "possibility of cooperation with American partners" in the Arctic.

The Gas Exporting Countries Forum opened with delegates addressing severe logistical challenges and mounting pressures across maritime routes while Russian President Vladimir Putin addressed the group to outline the main causes behind current energy instabilities.

He explained the removal of significant supply volumes had severely disrupted global markets while "demand remained unchanged," making transport optimisation between member nations critical while adding Russia was "exploring the possibility of cooperation with American partners."

He further noted shunning Russian energy supplies damaged foreign economies and warned attempts to exclude Russia carried "serious consequences."

Further contributions came from the forum's Secretary General, Philip Mshelbila.

"The disruption (in the Strait of Hormuz) has demonstrated the existing resilience and flexibility of the global gas system, but it has also exposed the limits of that flexibility.

LNG (liquefied natural gas) imports in major Asian and European markets have declined, spot prices have more than doubled since February, and pressures on storage, power markets and consumers have intensified." said Mshelbila

Delegates underscored that stabilising regional infrastructure and safeguarding cross-border pipelines remained paramount to overcoming current market volatility.

Putin also held formal talks with Iranian President Masoud Pezeshkian on the sidelines of the summit, marking their third meeting this year.

During their talks, Pezeshkian condemned American military actions and blockades in the Persian Gulf, explaining such "unilateral" pressure

endangered energy stability, disrupted pricing and transportation, and hindered global economic growth.

He added US sanctions had driven closer multilateral cooperation, allowing Tehran and Moscow to expand relations independently of Washington.

Putin then reviewed ongoing bilateral projects, explaining economic turnover between Moscow and Tehran expanded over the first eight months of the year, alongside continued construction progress at the Bushehr Nuclear Power Plant.

Diplomatic observers highlighted that both nations shared extensive historical defence arrangements, including established technological exchanges, as diplomatic alignment between Moscow and Tehran continue to develop.