First Russian-American Energy Summit to Open in Houston, USA, Today - 1 October, 2002

The first Russian-American energy summit opens in Houston, the US unofficial oil capital, today. According to the press service of the Ministry of Energy of Russia, the high-level meeting will be held under the auspices of the economy and energy agencies of the two countries.

The participants include the US Trade Secretary Donald Evans, the Minister of Economic Development and Trade of Russia, German Gref, the US Energy Secretary Spenser Abraham, and Russia's Minister of Energy Igor Yusufov. Besides, the meeting will be attended by the leaders of energy companies, scientists, fuel and energy-related professionals and financiers from Russia and the US.

Discussed at the summit will be practical issues related to cooperation between the leading oil, gas, and power companies of the two countries, the prospects as concerns joint energy projects with the use of the most advanced technologies, and projects related to heightening the efficiency of the use of energy.

The forum will be held under the agreements signed in May 2002 by the two Presidents. A joint opening statement emphasises the mutual intent to further cooperation as concerns energy, commerce, the speeding of the entrance of Russia's energy resources into world markets, science and business, energy saving, and environmentally safe technologies.