Russian Energy Minister Alexander Novak said on Wednesday that Saudi companies, which he declined to name, were in talks to invest in a liquefied natural gas project in the Arctic led by Russia’s Novatek. 

Giving an interview to the Financial Times, Novak said state-owned oil companies Saudi Aramco and Gazprom Neft were also in talks to set up a joint research and technology center.

"Russia and Saudi Arabia are facing similar challenges, meaning that co-operation between our companies is mutually beneficial?.?.?.?through their participation in major projects both in Russia and Saudi Arabia, as well as in third countries,” Mr Novak said. 

"We are talking not only about the exploration, development and production of hydrocarbons, as well as commercial operations with oil, oil products and LNG, but also on the development of technological co-operation,” he added. 

Source: MENA