Russian energy “invasion” in Argentina as well

Russian energy giant Gazprom is planning to enter the Argentine market through new investments, as revealed from statements made by a company official.

According to information, the Russians are waiting until the political situation in Argentina is stabilized before implementing their plans.

It should be noted that since 2018, the State Oil Company of Argentina (YPF) and Gazprom have been holding talks to promote their cooperation in liquefied natural gas extraction, treatment and storage plants.

“The two sides are in the final stages regarding Gazprom’s involvement in investment projects. However, the fluid political situation in Argentina is making the talks volatile, and we hope soon that the situation is normalized,” said a Gazprom official.

With Saudi Arabia

Russia and Saudi Arabia, meanwhile, are expected to agree on dozens of new investment projects, according to Russian Energy Minister Alexander Novak.

Mr Novak said that in the near future, the two countries would be expected to invest in petrochemicals, liquefied natural gas and the creation of joint ventures. Bilateral trade between the two largest oil producers is growing steadily, with data for the first quarter of the year showing a doubling of trade to $ 420.4 million compared to the corresponding quarter in 2018.