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Dollar flood into Russia’s economy
21.07.2011 11:55 "Agro Perspectiva" (Kyiv) —
Russia’s economy received more than $ 27 bn of direct investment since early 2011, the country’s PM Vladimir Putin told a government commission for foreign investment on Wednesday, noting that the sum is one-third bigger compared to 2010. Putin also said that only sky is the limit as Russia has all chances to get $6070 bn a year and maintain a positive balance of capital inflow and outflow.
The Wednesday session dealt with 13 foreign bids on Russian strategic assets, including shares of airports in Nizhny Novgorod and Novosibirsk, a mining and concentrating company and several telecommunication firms. The major bid was the one by France’s Total oil and gas group that wants to purchase assets of Russia’s Yamal LNG, Putin informed:
«This bid provides for a basis for joint exploration and liquefied gas production on the Yamal Peninsula that will gain a cutting-edge liquefied gas plant and transport infrastructure. A new Arctic port of Sabetta will be constructed with first ships to be loaded in 2018. Investors and the government plan to invest at least one trn rubles into production and transport infrastructure in the area and LNG carriers. This will allow to increase Russia’s presence in the world liquefied gas market and to diversify export supplies and routes. We’ll also strategically benefit from the revival of the Northern Sea Route.»
Total is one of the top four oil and gas companies. In Russia it is already exploring gas in Yamal’s South Tambey field. The purchase of Yamal LNG allows the company to join the exploration of a promising depot and the construction of Russia’s second LNG plant.
Now, foreign investors are showing a great interest in buying assets of Russian strategic companies with 219 of such bids waiting to be considered.
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