Russia is looking to expand its energy cooperation with African countries, which includes upstream oil and gas production projects and through OPEC+. Vladimir Putin, the President of Russia, announced during the Russia-Africa Economic and Humanitarian Forum in Moscow that the country is currently implementing over 30 promising energy projects in 16 African countries.
Development of Sustainable Energy Resources in Africa
Putin stated, "We have a common interest in ensuring that Africans have access to sustainable, affordable, and environmentally friendly energy resources and to support the development of domestic energy markets across Africa, especially in sectors where Russia has unique technologies."
Sergey Tsiolkov, the Minister of Energy of Russia, emphasized that Russia is ready to assist Africa in establishing hydrocarbon hubs. He said, "To make hydrocarbon imports feasible, logistical infrastructures need to be developed in African countries to facilitate the transportation of these hydrocarbons to end consumers."
Cooperation in OPEC+ and Production Goals
Russia collaborates with 8 African countries in the OPEC+ coalition, which includes 6 OPEC member countries: Algeria, the Republic of Congo, Equatorial Guinea, Gabon, Libya, and Nigeria. OPEC+ African member countries produced 4.48 million barrels per day in September.
In a meeting on October 27 with Mohamed Al-Menfi, the President of the Presidential Council of Libya, Al-Menfi announced that Libya is willing to expand its cooperation with Russia in various fields including energy, gas, infrastructure, reconstruction, and security. He expressed hope that Russian oil companies would return to Libya and contribute to the advancement of this vital sector of the country's economy.
Rosneft, the Russian oil company, previously signed four production service agreements with the National Oil Corporation of Libya regarding existing reserves in the Ghadames and Sirte basins, but work has been halted several times due to security concerns.
Russia also hosted the GECF summit on October 27, which includes GECF member countries from Africa such as Algeria, Egypt, Equatorial Guinea, Libya, and Nigeria.
