Russian Prime Minister Vladimir Putin on Friday indicated that he might run for the presidency in the 2012 presidential election, but said he would not compete with incumbent President Dmitry Medvedev, Russian news agencies reported.

Putin on Friday met with Russia experts from the Valdai Discussion Club at his residence outside Moscow.

"Putin said he and Medvedev would confer with the (United Russia) party, which is to decide who will be nominated as a candidate for president," Itar-Tass and Interfax quoted Alexander Rahr, a German political scientist, as saying after the meeting.

This is a signal to the public that he could return to the post of president, Rahr said.

Putin ruled out competing against Medvedev, his hand-picked successor, saying they would come to an agreement before the 2012 presidential polls, RIA Novosti reported.

Medvedev came to office in May last year, and Putin became prime minister a day later, with the pair pledging to run the country in "tandem."

Medvedev last November proposed extending the presidential and parliamentary terms from four years to six and five years respectively. The bill was signed into law last December after being approved by the parliament.

Source: Xinhua