Russia Begins 'New Era' of Cooperation On Energy With U.S., Chinese Companies

摘要

Russia's oil and gas extraction operations and use of advanced energy technologies will see a significant boost in the coming years under a series of major energy agreements with U.S. and Chinese companies overseen by Russian President Vladimir Putin. The cooperation agreements with foreign firms, signed June 21 at an international economic forum, will help Russian companies develop difficult projects in the Arctic offshore and Far East and begin tapping unconventional resources, allowing Russia to maintain its oil and gas export capacity. The agreements also further open thirsty Asian markets to Russian exports. "It is in fact a new era of cooperation, the essence of which is that, in collaboration with strategic partners, we are moving from purely raw materials supply to full-scale cooperation in the industrial and technology sphere," Putin said in a June 21 address to the heads of major energy companies at the forum.