Russia and Saudi Arabia are holding talks about investments worth tens of billions of U.S. dollars in various energy projects, Russia’s Energy Minister Alexander Novak said at an economic forum in Russia on Friday. Russia and Saudi Arabia have many bilateral projects, and their respective energy ministers discussed some of them at their meeting on the sidelines of the St. Petersburg International Economic Forum in Russia on Thursday. The two countries are planning projects in petrochemicals, liquefied natural gas (LNG), and joint research centers in Russia, Sputnik quoted Novak as saying on Friday. The talks are being held at a critical time when Saudi Arabia—or, rather, OPEC—needs Russia to be amenable to extending the production quotas past the June expiry. At the meeting with Saudi Energy Minister Khalid al-Falih on Thursday, Novak said that Saudi Arabia is one of Russia’s key partners in the Middle East. The Russia-Saudi partnership […]