MOSCOW, June 19 (Xinhua) -- Russia said Thursday it had no intention to dominate global energy markets, calling for clear and simple national and international regulations of energy distribution.
"Using energy as a geopolitical tool increases instability (and) worsens investments climate," Russian Energy Minister Alexander Novak told the closing session of the five-day World Petroleum Congress.
Saying Russia stands for "fundamental" market mechanism in its energy policy, Novak warned against "the temptation to use geopolitical tools to change the balance between suppliers and clients," the Interfax news agency reported.
He accused the European Commission of attempting to coerce some participants of the South Stream pipeline project to withdraw cooperation with Russia.
The long-standing Russia-Ukraine energy disputes have led to a deep political chasm between Moscow and Kiev and put natural gas supplies for European markets in jeopardy.
Russia has promised the full volume of gas supplies to Europe, but warned of potential transit disruption through Ukraine after Moscow halted gas flow to the country when the latter failed to pay its multi-billion U.S. dollar gas debt.
The World Petroleum Congress is organized every three years by the London-based World Petroleum Council and includes over 69 member countries from around the world, representing over 96 percent of the global oil and gas production and consumption.
Some 5000 delegates, including 30 ministers and 400 CEOs and heads of organizations, from more than 80 countries have participated in the 21st World Petroleum Congress this year.