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EU companies ready to set up oil, gas equipment manufacturing sites in Russia — minister

These are primarily the European Union companies having a history of cooperation with Russia's oil and gas sector

© ITAR-TASS/Eduard Molchanov

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Sanctions pose greater threat to Russian oil production than low oil prices — Fitch

MOSCOW, March 11. /TASS/. Foreign companies are interested in setting up oil and gas equipment manufacturing sites in Russia, Minister of Industry and Trade Denis Manturov said on Wednesday.

"Many of them are interested in investing funds into the Russian economy, creating the added value and producing equipment required for oil and gas companies in Russia," Manturov said. The minister did not specifically name companies intending to create manufacturing sites and joint projects in Russia.

"These are primarily the European Union companies having a track record of cooperation with our oil and gas sector," the minister added.

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