Russia to Push for Oil, Gas Deals With UAE

Russia and UAE are likely to push for new oil and gas deals.

The National, a local newspaper, reported that a high level Russian energy ministry delegation will meet UAE officials on Monday to discuss oil deal for Rosneft and gas supply deals from Gazprom.

Russia’s deputy energy minister, Yury Sentyurin, speaking on the sidelines of the PowerGen Middle East conference, which he opened on Saturday, said he saw good prospects for regional gas supply deals. “Gazprom has opportunities to supply [liquefied natural gas] into the UAE because of the shortage of natural gas in this country. Gazprom, [through its international marketing division] has put forward such kind of proposals for every country in this region … and we’ve got some opportunities.”

“Rosneft is in the process of talks with its partners here. No results yet, but they have signed a memorandum of understanding in St Petersburg for further cooperation and Rosneft is going to open a representative office here,” the minister was quoted by The National as saying.

Facing European and US sanctions due to Ukraine conflict, Russia is looking to enhance its energy exports to Middle East and Asian markets.