Russian Energy Minister Alexander Novak and the CEO of the Abu Dhabi National Oil Company (ADNOC) Sultan Ahmed Al Jaber met on Thursday to discuss issues of bilateral cooperation in the production of hydrocarbons and liquefied natural gas (LNG) and in geological exploration, according to Angi.ru.
Novak said that energy cooperation between the two countries is developing and has great potential. In particular, he noted that cooperation in the sphere of liquefied natural gas is especially promising.
“Moreover, Russian companies, in particular JSC Rusgeology, are ready to develop cooperation with UAE’s partners in geological exploration of hydrocarbons, including with the help of 3D seismic exploration,” Novak added, according to the ministry.
The head of the Russian Ministry of Energy recalled that at present, cooperation between Russia and the United Arab Emirates is also developing along the lines of the OPEC+ agreement aimed at stabilizing the world oil market.
“The preservation of trust between us, the ability to regularly “check watches” on the main issues of concern is the key to the stability of the entire world oil market,” Novak concluded.
Last month, Sheikh Abdullah bin Zayed Al Nahyan, UAE’s minister of Foreign Affairs and International Cooperation, met with Denis Manturov, Russian Minister of Industry and Trade, on the sidelines of his visit to Russia.
During the meeting, both sides discussed the means of strengthening their cooperation in various areas, including industry and trade, and the strong bilateral relations between their countries.