Russians, Saudis May Go Beyond Oil Alliance With LNG Project - Bloomberg:
"Russia and Saudi Arabia are seeking ways to amplify the success they’ve had working together to manage the oil market by reaching new energy deals, including one on liquefied natural gas.
Signing a memorandum, Russian gas producer Novatek PJSC and Saudi oil giant Aramco agreed to consider teaming up on Novatek’s Arctic LNG-2 project, Russian Energy Minister Alexander Novak told reporters in Sochi on Thursday. Specifics may be prepared ahead of the St. Petersburg International Economic Forum in May, he said.
President Vladimir Putin made a priority of expanding Russia’s LNG industry last year, and the country is seeking partners for projects to catch up with top producers Qatar and Australia. Meanwhile, Saudi Arabia is looking from Russia to East Africa and the U.S. for gas assets as state-held Aramco, known formally as Saudi Arabian Oil Co., hunts for ways to meet soaring domestic demand."
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