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Venezuela eyes joint energy projects with Russian companies

"We hope that we will work out concrete solutions to monetize our oil," Venezuela’s Industries and National Production Minister Tarek El Aissami said

CARACAS, October 5. /TASS/. Venezuela hopes to build up close partner relations with Russia so as to implement energy projects related to oil exports and investment, Venezuela’s Industries and National Production Minister Tarek El Aissami said on Saturday in Caracas at a meeting with Russian Deputy Prime Minister Yuri Borisov.

Borisov and El Aissami are the co-chairs of the Russian-Venezuelan intergovernmental commission.

"We hope that we will work out concrete solutions to monetize our oil. We hope to establish new partner relations with Russian companies. We hope to attract more investments from Russia and attract more companies," El Aissami said.

According to him, the countries are holding negotiations on the projects that will help to develop agriculture, and aluminum and nickel exploration and production, as well as to upgrade the chemical industry.

"Currently, our agreements are being implemented over major energy projects and Russia’s investment in the Venezuelan economy. It is proved by the fact that trade has grown 10% over the past eight months," the minister said.

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