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Russia's Lukoil, Bashneft, Gazprom Neft interested in entering Algerian market — minister

Russia’s Energy Minister Alexander Novak said that Gazprom International, Rosneft and Tekhnopromexport together with their Algerian partners are continuing the implementation of their joint projects

Russia’s Energy Minister Alexander Novak TASS/Mikhail Dzhaparidze

Russia’s Energy Minister Alexander Novak

© TASS/Mikhail Dzhaparidze

MOSCOW, July 31. /TASS/. Russia’s Lukoil, Bashneft, Gazprom Neft and Inter RAO are interested in entering the market of Algeria, Russia’s Energy Minister Alexander Novak said on Friday.

He was speaking after a meeting of the intergovernmental Russian-Algerian commission on cooperation.

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"Among the companies interested in entering to Algerian market I would put a focus on Gazprom Neft, Lukoil, Russneft, Rusneftegaz, Bashneft and Inter RAO," - he said.

The minister said that Gazprom International, Rosneft and Tekhnopromexport together with their Algerian partners are continuing the implementation of their joint projects.

Novak also said that unstable situation on the financial markets has a negative impact on the bilateral relations. "The trade turnover between our countries dropped almost three times to $ 885.04 million in 2014," - the minister said.

He said that the two countries should continue to study opportunities for diversification in mutual trade.

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Oil & Gas Gazprom Lukoil Algeria

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