Russia and Saudi Arabia considering projects on renewable energy resources

Russia and Saudi Arabia are considering projects on renewable energy resources.

Russia and Saudi Arabia are considering projects on renewable energy resources.

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Сompanies are discussing a number of joint oil and gas projects

Russia and Saudi Arabia are considering projects on renewable energy resources, Russia’s First Deputy Energy Minister Aleksei Texler said on June 1, adding that Hevel (Russia’s biggest integrated company operating in the solar energy field) will hold talks on the issue later in the day, TASS reports.

"There is an exchange of views regarding renewable energy resources, we’ll be developing it. We’ve agreed to send a business mission to Saudi Arabia. Our companies are interested. Hevel is taking interest, talks are expected later in the day," he said.

Earlier Russia’s Energy Minister Alexander Novak said that Saudi Arabia and Russian companies are discussing a number of joint oil and gas projects. Russia’s Energy Ministry reported on May 30 that the sides had held talks focusing on cooperation in the area of technological cooperation.

Novak noted an increasing interest of Russian oilfield services companies to the market of Saudi Arabia. The Minister also mentioned the creation of joint R&D centers on the development and introduction of technologies in such areas as oil and gas production, oilfield services and transportation of crude hydrocarbons among promising projects.

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