Dr Sultan Ahmed Al Jaber, UAE Minister of State and Group CEO of the Abu Dhabi National Oil Company (ADNOC) met with Alexander Novak, Minister of Energy of the Russian Federation, during a visit to Moscow, as ADNOC explores opportunities to expand its strategic partnership and investment base across its entire value chain.
During the meeting, Dr Al Jaber conveyed the greetings of the UAE leadership to the government and people of Russia and reaffirmed the deep-rooted ties between both countries, stressing the keenness of the UAE to strengthen bilateral relations. Bilateral trade between Russia and the UAE topped 11 billion AED last year, a 21% increase on the previous year. Relations were further strengthened last year when Sheikh Mohammad Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces met President Putin and both leaders signed a declaration of strategic partnership covering political, security and economic spheres.
In this meeting, Dr Al Jaber noted his appreciation for Russia’s role in the OPEC/ Non OPEC Cooperation Agreement, which continues to have a positive impact on balancing oil markets. Dr Al Jaber elaborated on ADNOC’s ongoing transformation, centred on maximising value, and expanding the company’s strategic partnership base to stay ahead of the world’s growing demand for energy.
Dr Al Jaber said: “This visit reflects the strong and friendly ties between the UAE and Russia. As our countries continue to build on strong trade relations, there is significant potential for collaboration in the energy sector. ADNOC is open to exploring partnership and co-investment opportunities with Russian energy companies across the full value chain where they make economic sense and drive significant returns for both sides.
“As we respond to the evolving energy landscape, driven by growing demand particularly in Asia, ADNOC is forging ties with new partners from around the world, who share our creative vision and are prepared to put skin in the game through capital, technology and market access.”
Read the article online at: https://www.hydrocarbonengineering.com/refining/12072019/adnoc-group-ceo-meets-russian-minister-of-energy-in-moscow/
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