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Russia emerges as unlikely energy safe haven

March 14, 2011 Comments off

AFP – Turning the page on former disappointments, the world’s energy giants are flocking to Russia, whose vast resource riches look even more tempting at a time of turbulence in the Middle East.

In just a matter of weeks, the country has put the finishing touches on a clutch of joint exploration and share-swap agreements whose negotiation seemed impossible just a few years ago.

But with natural gas production stagnant and new oil wealth resting in hard-to-reach reserves, Russia is swinging the door open to Western companies, their presence now seen as essential to the country’s economic growth.

“Russia is today the go-to place for Read more…