Libya to boost energy ties with Russia

November 2nd, 2008 - 5:31 am ICT by IANS  

Moscow, Nov 2 (Xinhua) Libyan leader Muammar Gaddafi said here Saturday that his country would enhance cooperation in the oil and gas sector with Russia. “We consider cooperation with Russia in the oil and gas sector as very timely at this moment … Moreover, we have common approaches to the oil and gas policy,” Itar-Tass news agency quoted Gaddafi as saying during talks with Russian President Dmitry Medvedev.

Russia’s energy giants, such as Gazprom, Tatneft, Tatneftegeofizika, Lukoil and Stroitransgaz are operating in Libya’s oil and gas sector. Their projects range from geological surveys, offshore exploration and oil refining, besides others.

Gaddafi arrived here Friday for his first visit to Russia. His talks with Russian leaders would focus on economy, energy and military cooperation.

Both sides are also expected to seal an arms deal worth over $2 billion, Kremlin officials said.

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