Russia bolsters Gulf energy strategy

Putin has again stressed that Russia shares common interests in energy matters with the Gulf states during his recent visit to Saudi Arabia and Qatar an indication that the Middle East is becoming increasingly important to Russia’s long-term energy strategy.

Bilateral Saudi and Russian business ties are developing. Lukoil Saudi Arabia Energy (LUKSAR) was established in March 2004. The joint venture with Saudi Aramco is searching for non-associated gas and field condensate in a block covering 30,000 square kilometres in the northern part of the Rub Al-Khali (Empty Quarter) south of the giant Al-Ghawar oil field.
AME Info