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Energy may become driving force for Russia-US ties — minister Novak

Novak said Russia and the United States have great potential for cooperation in the gas sector

Russian Energy Minister Alexander Novak Mikhail Metzel/TASS

Russian Energy Minister Alexander Novak

© Mikhail Metzel/TASS

WASHINGTON, June 27. /TASS/. The energy sector can become a driving force for constructive development of Russian-US ties, Russian Energy Minister Alexander Novak told reporters at a news conference to sum up the results of his visit to Washington.

Novak visited Washington on June 26 to take part in the World Gas Conference. During the visit, the Russian minister met with US Treasury Secretary Steven Mnuchin and Energy Secretary Rick Perry.

"During those meetings, issues of energy ties, US companies’ work on the Russian market and future cooperation were discussed. It turned out that we have quite a few promising areas of common interest, including in the gas sector development and energy efficiency," he said.

"We agreed to maintain contacts and cooperation in this area, because energy has the potential of becoming the driving force for our relations," Novak said.

He said Russia and the United States have great potential for cooperation in the gas sector.

"In general, this market will keep growing, it will become more and more globalized. Worldwide gas consumption will grow, especially on regional markets, such as Asia-Pacific and Africa, where lots of people have no access to traditional sources of energy," the minister said. "That’s why there is huge potential for developing cooperation in this area and for joining forces. I think that such an opportunity exists."

"But, of course, we will need to make maximum effort to turn the [Russian-US] energy cooperation into, as I have already said, the driving force of our relations," he added.

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