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Russia discusses gas equipment and national-currency payments with FSEG
Russian Energy Minister Sergey Tsivilyov said they discussed developing and producing joint equipment for the gas sector and liquefied natural gas with FSEG countries. The talks in Moscow also addressed settlements in national currencies, mutual recognition of standards and long-term investment in new gas fields.
Speaking at Russian Energy Week in Moscow, Russian Energy Minister Sergey Tsivilyov said the Gas Exporting Countries Forum (FSEG) was discussing options for joint production and financial cooperation in the gas sector.
In remarks on 16 October, Tsivilyov described FSEG as a platform for practical cooperation. The discussions covered the joint development and production of equipment for the gas sector and liquefied natural gas, mutual recognition of standards and settlements in national currencies.
FSEG is a platform for practical cooperation. We are discussing the joint development and production of equipment for the gas sector and liquefied natural gas, mutual recognition of standards and settlements in national currencies.
Tsivilyov said the global energy market was being reshaped and that some countries had turned trade in energy resources into a political tool. The Russian energy minister also said sanctions had been imposed on some suppliers and that rules concerning the energy transition had been imposed on other countries.
Emphasis on long-term contracts for gas fields
Tsivilyov said developing new gas fields required investments spanning decades. For this reason, he said, long-term contracts in the gas sector were important for Russia.
The Russian energy minister also said energy trade should involve fair pricing and that unilateral restrictions should be abandoned.
Russian Energy Week is being held in Moscow from 14 to 16 October.
Source: RIA Novosti
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