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Russia, Qatar eyeing joint projects worth $12 bln

The Russian energy minister says Russia and Qatar expect bilateral trade turnover growth

DOHA, April 25. /TASS/. Russia and Qatar may achieve the trade turnover of $500 mln already in three years, Russian Energy Minister and co-chairperson of the bilateral intergovernmental commission Alexander Novak told reporters on Tuesday.

"We had a twofold increase last year, in simple terms. If we proceed with such a pace, we will reach $500 mln in about three years," Novak said.

He added that Russia and Qatar viewing $12 bln worth joint projects.

"Cooperation between the Russian Direct Investment Fund and the Qatar Investment Authority is growing. $1.2 bln have already been invested into specific projects; projects amounting to about $12 bln more are under consideration," Novak said.

Russia and Qatar may set up joint venture producing oilfield service equipment.

"Promising proposals are available on establishment of joint ventures to produce equipment for the oil and gas industry," the minister said.

"We agreed to draw up an intergovernmental agreement between customs by the next commission meeting. This paper was discussed. I believe this is an important asset for cooperation development," Novak said.

Russia and Qatar will set up a working group tracing implementation of specific projects and arrangements for the purpose of monitoring agreements reached between two countries, the minister added.

The parties are also considering an opportunity of training aviation specialists, Novak said. "We handed over a list of our higher educational institutions to our Qatari colleagues," he said.

Four Russian oilfield service companies interested in Qatar projects

Four Russian oilfield service companies are interested in projects in oilfield service contracts and exploration projects in Qatar, deputy department director of the Russian Ministry of Economic Development Nailya Chernikova told TASS on Tuesday.

"These are mainly exploration projects and oilfield service projects. Stroineftegaz, Eriall Group, Rosgeo and Rosgeoservice are interested among other projects," she said.

Furthermore, Qatar is still interested in deliveries of liquefied natural gas (LNG) from Russia, Chernikova added.