Foreign Investors Work “More Effectively” With Russian Partners – Minister
“We do not hide our position that foreign investors will develop hydrocarbon resources in Russia more effectively if the foreign companies cooperate with Russian ones,” Russia’s Natural Resources Minister Yuriy Trutnev said at a press conference in Beijing on 3 September, Interfax reported on the same day. “Chinese companies today have already taken that route, and are working with Gazprom and Rosneft. I hope that this work will be successful,” added Trutnev, as quoted by the agency.
In a report at 0741 gmt on the same day, ITAR-TASS quoted Trutnev as promising that there would be plenty of hydrocarbons to supply the East Siberia – Pacific Ocean (ESPO) pipeline when it is completed. “We have received confirmation from the oil and gas companies that they are meeting their obligations on prospecting and developing oil and gas fields,” he said, as quoted in the report. “There are risks, but they are geological in nature rather than investment-related,” he added. “There is a base for filling the pipeline from explored reserves, but we don’t know whether there are sufficient reserves to develop it,” he is quoted as saying.
Regarding the agreement being drawn up by Russia and China about the use of cross-border water resources, Trutnev said that no consensus had yet been reached about compensation for environmental damage, RIA Novosti reported at 0741 gmt the same day. “Today, it is completely obvious that it is quite difficult to fix the issue of economic sanctions for pollution in the agreement. But it is possible, and in our view necessary, to fix the presence of such a mechanism in the agreement, i.e. general principles for calculating environmental damage to water resources,” the report quotes Trutnev as saying.
He noted that China’s Water Resources Ministry was demonstrating great “reticence” in preparing an agreement. “I believe that in this case, reticence reflects the absence of specific answers to specific questions,” he added.
Originally published by Interfax news agency, Moscow, in Russian 0747 3 Sep 07;.
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