The Saudi Arabian Oil Company, Saudi Aramco, may become an investor in Russian LNG projects in the future, according to the Russian Energy Minister Alexander Novak.

Speaking at a Russian-Saudi investment forum on Monday, Novak said: “We already have projects that are implemented. Now we have invited our Saudi colleagues to develop our projects for the production of liquefied natural gas in the north of Russia, where we have a successful Yamal LNG project.”

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“We believe that Saudi Aramco will be one of the investors in future projects,” he added.

Novak said earlier that Saudi companies were considering investments in joint gas projects with Russia, as well as for the production of ethanol, used in the liquefaction of natural gas.

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