Moscow is hosting a meeting of natural gas exporting countries on Tuesday. Some analysts believe it is an attempt to create an OPEC-like cartel of gas producers that would be able to control energy prices.

Participating countries include Algeria, Iran, Libya and Qatar.

Tom Mundy, an energy expert of the Rennaissance Capital investment bank believes that Russia would get much advantage if it succeeds in creating a gas cartel.

"As far as Russia's concerned, it is probably advantageous for them because if there is a cartel of gas producers, Russia clearly will take the lead. I think they want to be able to exert pressure globally through the exports of gas and the control of gas prices."

Andrew B. Somers, president of the American Chamber of Commerce in Russia, however thinks the government in Moscow is more concerned these days about the world economic crisis than anything else.

"The world economic crisis has got the Russian government totally absorbed resolving the problem, so I don't think this issue of gas pressure is really something that the government is focusing on right now. They are looking at restabilising the economy and getting Russia through the world economic crisis."

Gas, as well as oil constitutes the bulk of Russia's revenues.

A number of Western countries which depend on natural gas deliveries from these countries have expressed their concern over the plans seen as an attempt to control gas prices.

But Russia has assured the international community the main idea of the would-be organisation is to exchange views.