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Press ReleaseFrontier Strategy Group Managing Director Alex Turkeltaub Discusses Russian-Iranian Cooperation on Natural Gas on CNBC CAMBRIDGE, Mass. – (BUSINESS WIRE) – February 5, 2007 – Frontier Strategy Group Managing Director and natural resources expert Alex Turkeltaub discussed Russian-Iranian cooperation on natural gas and the possible development of an OPEC-like natural gas cartel on CNBC's "Power Lunch." Mr. Turkeltaub noted that recent comments by Russian President Vladimir Putin regarding the creation of an OPEC-like cartel in the natural gas markets is more about geopolitics than about the economics of the natural gas industry. "The practical challenges of setting up a cartel in the natural gas space are quite significant," Turkeltaub noted. "However, from a geopolitical perspective, this move makes a lot of sense for both Moscow and Tehran. It's consistent with Russia's long-standing policy of attempting to increase its influence in the Middle East and it positions Russia as an important ally of the regime in Tehran. Most importantly, the Kremlin is concerned about a possible rapprochement between the United States and Iran and wants to create a disincentive for such a development by demonstrating to the Iranians that they have other options - namely a partnership with Russia." Mr. Turkeltaub also commented on Western European concerns about the implications of a potential gas cartel on supply to European markets. "From my perspective, the Europeans should certainly be concerned," Mr. Turkeltaub argued, "but more about the impact of the Russian move on the world community's ability to prevent Iran from developing a nuclear weapons program than about gas supply. The gas supply issues are extremely important; but the Russian move indicates that Russia is unlikely to acquiesce to any serious censure of Iran in the United Nations Security Council and this is a pressing issue." A webcast of Mr. Turkeltaub's presentation can be accessed at: http://www.cnbc.com/id/15840232?video=173876267 About Alex TurkeltaubAlex Turkeltaub is a Managing Director at Frontier Strategy Group and heads the Former Soviet Union and Middle East Mining & Energy practice at the Frontier Strategy Group. About Frontier Strategy GroupFrontier Strategy Group is a global consulting and advisory firm focused on the natural resources industries. Key practices include country-entry and growth strategies, M&A advisory, political risk assessments and permitting assessments. The firm is based in Cambridge, Massachusetts, and has offices in New York and Washington DC. Media Contact:
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