Russian And US Energy Authorities To Establish Joint Group For Partnership Development

Russian Energy Minister Igor Yusupov and Spencer Abraham, head of the US Department of Energy, had a meeting in Moscow today. They made a decision to create a working group for bilateral cooperation between the US and Russian energy agencies, the press service of the Russian Energy Ministry reported to RBC. Yusupov has highly estimated investments of US companies in the Russian economy, in general, and in the development of deposits on the basis of the Product-Sharing Agreement, in particular. As an example of successful cooperation, the Russian Energy Minister mentioned the Sakhalin-1 and Sakhalin-3 projects and investments in oil production in Russia. In his turn, Abraham noted that these projects and the launch of the Caspian oil pipeline denote a favorable investment climate in Russia for US companies.