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Russia Looks to Africa for Energy Co-operation

OIL

Russia is looking to boost its oil and gas exports to Africa, as it looks to replace the lost consumers in Western countries.

  • Russian oil product exports to Africa totalled 8 million mt in January-May, up threefold on the previous year.
  • Energy Minister Nikolay Shulginov also said that Russian gas companies were ready to participate in projects to build infrastructure and supply LNG to Africa. He added that Russia and Egypt have agreed to increase energy supplies and expand the participation of Russian oil and gas companies in new projects.
  • The Gazprom-Sonatrach el Assel development, with reserves of around 30 million tonnes is due to start production in 2026.

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