11 November 2002 00:00
ON TALKS HELD BETWEEN IGOR YUSUFOV, RUSSIAN ENERGY MINISTER, AND ABDULRAHMAN AL-ATTIYAH, GCC SECRETARY GENERAL
The Russian Federation is for close cooperation with Arab countries in the field of energy, Igor Yusufov, the Energy Minister, said on November 6 at a meeting with Abdulrahman Al-Attiyah, Secretary General of the Gulf Cooperation Council.
Abdulrahman Al-Attiyah gave a high assessment to Russian cooperation with OPEC, as well as with individual countries which are part of this organization. He noted that Russia and the Gulf countries play a key role in the world system of energy supplies, which imposes on them the lion's share of responsibility for their stability.
The participants of the talks were unanimous in the view that the aim of cooperation must remain stability in world energy markets, as well as the maintenance of fair energy prices.
Yusufov and Al-Attiyah took a decision to establish a joint working group on energy between Russia and the GCC, within which it will be possible to exchange information on the reserves and the production of energy resources and to discuss such problems as the stability of markets, technology exchange and investment. The GCC leader favored a more active presence of Russian oil and gas equipment manufacturing companies in Arab countries' markets, stressing that there is interest in the region for these products.
Attiyah said the experts of Qatar had completed a wide-scale study of gas markets and prospects for gas exports from this state to other nations. On the Russian minister's proposal, this theme will also be a subject of discussion of the joint working group.
Abdulrahman Al-Attiyah headed up the GCC in April 2002. The council incorporates Saudi Arabia, the United Arab Emirates, Kuwait, the Sultanate of Oman, Qatar and Bahrain.
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