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Saudi Arabia to consider participation in Arctic LNG project

Логотип TASS TASS 02.06.2017 TASS

ST. PETERSBURG, June 2. /TASS/. Saudi Arabia will explore the possibility of participating in Russia's Arctic LNG project, the country’s Minister of Energy, Industry and Mineral Resources Khalid A. Al-Falih said in an interview with TASS, adding that the country is interested in LNG supplies.

"Everything is possible. At this stage, of course, it is too early to talk about specific projects. LNG business is challenging, there is a lot of supply. However, we don’t think in terms of years, we think in terms of decades. So I think we should look at long-term projections, and if the projects are justified we will consider investing in them. Especially, if they can be used to supply LNG to Saudi Arabia," he said when asked about the country’s potential participation in the Arctic LNG project.

"Saudi Arabia is a huge market for gas, so we’re looking at existing projects like Yamal LNG, but we’re also looking at future projects with Russian companies that we can do elsewhere - Africa, Mediterranean," he added.

ITAR-TASS

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