Nigeria’s Finance Minister Meets Russian Deputy PM for Major Energy Partnership Talks
Nigeria’s Finance Minister and Coordinating Minister for Economic Affairs Olawale Edun held crucial talks with Russia’s Deputy Prime Minister Alexander Novak on expanding full-cycle cooperation in the oil and gas sector, marking a significant diplomatic development in Africa-Russia energy relations.
The high-level meeting focused on comprehensive collaboration spanning from geological exploration to field development, along with enhanced coordination within the Gas Exporting Countries Forum (GECF) and OPEC+. The discussions represent a major step forward in strengthening energy ties between the two nations.
“The parties have discussed full-cycle cooperation in the oil and gas industry, from geological exploration to field development, as well as interaction in the energy sector, industrial equipment supplies, and in the financial and banking sector,” according to the official Russian government statement.
Novak emphasized the friendly nature of bilateral relations, describing Nigeria as a promising partner for Russia in Africa. He highlighted the critical importance of their joint work within OPEC+ in maintaining global oil market stability.
“Our joint work within OPEC+ renders a decisive contribution to ensuring stability and predictability of the global oil market. The decisions taken are based on real market indicators and trends and are aimed at balancing this in the face of economic challenges,” Novak stated.
The Russian Deputy Prime Minister stressed that their collective actions within OPEC and OPEC+ align with long-term national interests and contribute to strengthening both countries’ economies. He also emphasized Russia’s commitment to promoting the legitimate interests of gas exporters in global energy markets.
This meeting comes at a crucial time as both nations seek to maximize their influence in global energy markets while navigating current economic challenges and geopolitical tensions.
Source: interfax.com
