​Saudi Arabia & Russia agree working group for joint energy projects – energy minister

Aleksandr Novak (RIA Novosti / Maksim Blinov)
Russia and Saudi Arabia have agreed to set up a working group to develop joint oil and gas projects, Russian Energy Minister Aleksandr Novak said at the St Petersburg Economic Forum.

The minister added that Russia and Saudi Arabia have decided to resume the work of the intergovernmental commission.

"At the end of the year, in October, we will summon a meeting of the intergovernmental commission, which hasn’t operated for five years," he said.

Novak pointed out that Russia isn’t looking to replace oil and gas partners, but wants to create favorable conditions for the emergence of new ones.

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The Energy Minister also said Russia and Greece will sign an intergovernmental memorandum on the Turkish Stream gas project at the Forum on Friday, and that he would be meeting with his Bulgarian counterpart Temenuzhka Petkova. Topics for discussion could include joint projects and the construction of gas infrastructure, he added.

On Thursday Russian President Vladimir Putin met with Saudi Arabia’s Deputy Crown Prince and Defense Minister, Mohammed bin Salman. They discussed prospects for the development of relations between the two countries.