Good news for patriots who take pride in success of the Russian oil and gas companies. It is a real challenge for a country to find a partner if it is burdened with sanctions. However, some states have volunteered to cooperate with Russia. While the West avoids contacts with one of the biggest oil exporters despite seamless supplies and low prices, the Middle East tries to strengthen ties with it.
Saudi Arabia didn’t waste a chance and stroke a lucrative deal. The world’s leading oil company, Saudi Aramco, signed an agreement with the Russian Novatek. “We see bright prospects for the mutually beneficial partnership with Saudi Arabia. Our company has high-quality natural gas reserves and unique experience in the implementation of LNG projects in the Russian Arctic region,” Novatek CEO Leonid Mikhelson said. Obviously, he is really glad that such a big company as Saudi Aramco took an interest in partnership.
According to the agreement, the companies will cooperate in the sphere of LNG production. Saudi Aramco and Novatek plan to invest hefty sums in gas projects, including LNG supplies, geological exploration, and gas extraction.
