Russia and Saudi Arabia Explore Energy Investments Worth Billions
Russia and Saudi Arabia are negotiating investments totaling tens of billions in energy projects, crucial for OPEC dynamics. The discussions focus on petrochemicals, LNG, and joint research, highlighting the strategic partnership between the two nations.
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Russia and Saudi Arabia are in talks regarding energy investments worth tens of billions of U.S. dollars, as confirmed by Energy Minister Alexander Novak. The discussions include projects in petrochemicals, LNG, and the establishment of joint research centers in Russia.
This collaboration is particularly important as OPEC seeks to extend production quotas. The Russian Direct Investment Fund and Saudi sovereign wealth fund have already invested approximately $2 billion in joint projects.
Additionally, Saudi Aramco is reportedly considering acquiring a stake in the Arctic LNG 2 project, for which Novatek is open to selling up to 30%. This evolving partnership underscores the significance of bilateral cooperation in the energy sector.
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