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Secretary of State pick may renew US-Russia energy relations

Secretary of State pick may renew US-Russia energy relations

Russia’s former energy minister, Igor Yusufov, has stated that President-elect Donald Trump’s Secretary of State nominee – Rex Tillerson – could open up new avenues for investment between Russia and the US in oil and gas.

According to The Guardian, Tillerson, previously CEO of ExxonMobil, was described by Yusufov as having a “business-like manner” which would bode well for renewing the energy summits that ceased more than a decade years ago. ExxonMobil would benefit hugely from any improvement in relations.

The unverified dossier published by BuzzFeed earlier this week touches on the possibility of future partnerships between Russia and the US, including with regard to a “future bilateral energy cooperation”. 

Yusufov told The Guardian: “Russia possesses both political and economical will to resuscitate this important international interaction format, possibly convoking the third energy summit with participation of leading ministries and private companies. [It would bring] stability to the global oil market, which means a just price for crude oil. In their turn, these relations of global partnership can lead to a reasonable exchange of both investments and technologies.”

 

Read the January 2017 issue of Energy Digital magazine. 

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