Russian and Norwegian energy industries to coordinate their moves

Nov 13, 2002 01:00 AM

Russia and Norway have agreed to continue a joint search for mechanisms to coordinate their moves in the energy market and to go on jointly seeking approval for their oil policies from all major oil exporters, the Russian energy minister said.
Igor Yusufov was speaking at a meeting in Oslo with the chiefs of Russian and Norwegian companies, the Russian Energy Ministry said. The meeting was part of the program of the current visit to Norway by Russian President Vladimir Putin.

Yusufov emphasized "the importance of multilateral and bilateral contacts between oil producers, including the Russian-Norwegian dialogue, for working out common approaches in the maintenance of stability in the world oil market, and also the importance of joint efforts by principal producers of oil, including non-members of OPEC."
Because of the liberalization of the European natural gas market under a European Union directive, Russia and Norway are holding regular consultations and are trying to coordinate their efforts, said Yusufov. "Russia and Norway, as leading gas suppliers for the European market and [countries] sharing interests in this field, plan to continue building up such a dialogue," the minister said.

He also expressed satisfaction with what Norwegian oil and gas companies are doing in Russia. He mentioned Norsk Hydro, involved in a project to develop the Kharyaginskoye field in Russia's Nenets autonomous district.
The project is based on a production sharing agreement. Yusufov also said Norwegian companies plan to take part in developing the Shtokmanovskoye and Prirazlomnoye fields in the Barents Sea.

Source: Daily News Bulletin
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