Russia and Saudi Arabia prepare dozens of new joint projects, says Russia’s Energy Minister
Russia and Saudi Arabia are preparing to sign a package of documents that includes several dozens of new joint projects, Russia’s Minister of Energy Alexander Novak told reporters on Wednesday.
“We are preparing a large, solid package of documents. Several dozens of projects,” he said.
The day before, the minister was in Saudi Arabia. According to him, the purpose of the trip was to prepare for the visit of Russian President Vladimir Putin to the country.
Novak said earlier that in the near future, Saudi Arabia could start investing in Russian projects in the field of petrochemicals, production of liquefied natural gas, and in creation of joint research centers. According to him, trade turnover between the countries is constantly growing and in the Q1 2019 it doubled the figure for the same period in 2018, increasing to $420.4 mln.
Russian-Saudi relations are also developing in the field of agriculture. Over the past 3 years, trade in this segment doubled reaching $500 mln at the end of 2018.