Algerian-Russian Alliance To Raise Oil, Gas Prices

Algerian and Russian officials expressed, on Wednesday, their readiness to continue to work together to pressurize the competitors, and to raise Oil and gas prices during the next phase, on the sidelines of the Algerian-Russian partnership committee that was held in Algiers, in addition to the conclusion of new deals for the sale of planes.

Meanwhile, Finance Minister, Abderrahman Raouia confirmed the need to strengthen relationships of cooperation with Russia in the future through a program that includes the visit of the Russian Prime Minister, Dmitri Medvedev, to Algeria on October 10, and the Russian Energy Minister said that the large Russian company, Gazprom, will invest in Algeria and will ask for signing new deals, and that the two countries will intensify their efforts to push forward the price of oil, in addition to Russia’s interest in the sale of passengers’ planes of the type “Sukhoi Superjet 100” and “MS21” to Algeria .

The Finance Minister, Abderrahman Raouia, urged the expansion of cooperation between Algeria and Russia, to include other sectors in order to strengthen their strategic partnership, during his intervention at the opening of the eighth session of the Algerian-Russian Joint Committee that is headed by him and the Russian Energy Minister, Alexander Novaki.

He asserted that the dynamic of the partnership between the two countries should be extended to other areas.

“We have to continue our joint work and expand it to other sectors and we hope to diversify our strategic partnership”, said the minister, who is keen on building a partnership in many sectors that is based on solid platforms.

“It mainly concerned the sectors of vocational training, scientific and technical research and culture, which will be added to the sectors of industry, transport, civil nuclear and energy“.

The minister expressed his optimism about the fate of the partnership between Algeria and Russia, saying “This optimism was derived from our experts and the mobility of heads of institutions of the two countries.

He expressed his satisfaction with “the intensification of the Algerian-Russian relationships” and the hope of Algeria to build a “profitable partnership for both countries.”

“The two parties should build their partnership on the basis of the gains of their long-term bilateral cooperation in order to embody the desired strategic partnership. Russian institutions to show more presence and activity in Algeria“.

Russian Oil Minister, Alexander Novak, asserted that Algeria and Russia contributed to the stability of oil prices in world markets.

Novak said, in a speech during the opening of the eighth session of the Algerian-Russian mixed committee, that “The governments of the two countries have contributed to the stability of oil prices within the framework of cooperation between the producing countries members of OPEC and non-members of this organization.”

In the field of energy cooperation, Algeria and Russia, who are members of the Gas Exporting Countries Forum, have common positions within this organization on key issues.

 According to the Russian minister, energy cooperation between the two countries dates back to many years, and was strengthened through a joint working group in the field of energy, as he mentioned the memorandum of understanding that was signed between Sonatrach and the Russian complex Rosneft in the field of exploration, infrastructure and transportation of hydrocarbons.