Russian-US energy summit ends in Houston

A joint statement was signed at the end of the first-ever Russian-US energy summit in Houston (October 1st-2nd). This document was inked by Russia's Energy Minister Igor Yusufov and its Economic Development and Trade Minister Gherman Gref. US Energy Secretary Spencer Abraham and US Commerce Secretary Donald Evans also signed the statement.

The four ministers stressed that the fuel-and-energy sector had vital significance for the global economy, also noting that it was instrumental in maintaining global stability, economic growth and social development.

The United States and Russia intend to jointly work for the sake of maintaining dialogue between fuel-and-energy consumers and producers, ensuring the subsequent diversification of fuel-and-energy supplies, reducing their price instability and improving business and investment climates.

Moreover, the four ministers advocated the possible establishment of partner-like relations between Russian and US corporations during the implementation of specific projects in Russia and the United States, as well as elsewhere. They also voiced their commitment to establishing a favourable investment climate, ensuring transparent business operations, as well as stable legislative and legal norms.