'The consortium will be the main theme (of energy talks in Caracas),' Gazprom's deputy head Alexander Medvedev told reporters on Saturday.

'We hope certain agreements on this will be reached,' he added. Mr Medvedev was speaking on the fringes of the summit of Apec Asia-Pacific Economic Community summit in the Peruvian capital Lima.

The Russian president will fly to Venezuela after taking part in the Apec summit and visiting Brazil.

The consortium has been discussed by five Russian energy compaies - Gazprom, Rosneft, Lukoil, TNK-BP and Surgut - and Venezuela's state oil company PDVSA. But some analysts have said the recent plunge in oil prices could make it less lucrative.

Mr Alexander Medvedev said the final decision on creating the consortium would follow the singing of an intergovernmental agreement between Russia and Venezuela, which is now in works.

He gave no details. -- REUTERS