UAE and Russia maintain long-term strategic partnership in energy: Al Mazrouie

WAM Abu Dhabi, 16th Dec. 2013 (WAM) — Suhail Al Mazrouei, Minister of Energy, discussed today with Sergei Belyakov, Deputy Minister of Economic Development of the Russian Federation, prospects of joint cooperation in energy.

During the meeting, which took place on the sidelines of the UAE-Russia Economic Forum in the presence of Mohammed Thani Al Rumaithi, Chairman of Abu Dhabi Chamber of Commerce and Industry (ADCCI) and of UAE Federation of Chambers of Commerce and Industry, Al Mazrouie stressed the importance of the long-term Emirati-Russian strategic partnership in various fields of energy, noting that both political leaderships had provided the fertile ground for private sector in the two countries to harness huge investment opportunities on offer.

He invited the Russian companies to seize investment opportunities the UAE offer in energy.

”Cooperation between companies in the UAE and Russia can expand to investment in many other countries……… both countries are members in the nascent Organisation of Gas Producing Countries which we believe has a great role in stability of world gas markets,” he added.

The Russian minister said that Russian companies were looking forward to attract UAE investment to energy projects Moscow will put to tender in the next period.

”We are working on suitable mechanisms which will realise that cooperation in the near future,” he said, noting the recently launched US$ 5 billion direct investment fund would provide a proper mechanism for boosting joint cooperation in investment areas, notably energy.

The Russian official passed to the UAE minister an invitation from Russian minister of economic development to attend the St. Petersburg International Economic Forum to be held next May.

Russian Ambassador to UAE Alexander Efimov and a number of officials from the ministry of energy and ADCCI attended the meeting.

WAM/TF

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