Russia, Venezuela strengthen energy ties

by Staff Writers Barvikha, Russia (AFP) July 22, 2008 Leading oil and gas producers Russia and Venezuela will coordinate energy policies, Russian President Dmitry Medvedev said Tuesday after meeting his Venezuelan counterpart Hugo Chavez. The talks at Medvedev's residence outside Moscow included discussion of arms deals and resulted in an agreement for three Russian companies -- Gazprom, Lukoil and TNK-BP -- to work in the energy-rich Orinoco Belt in Venezuela. "Russia and Venezuela are oil and gas powers and energy security depends on our combined actions. We will work on coordination but our cooperation is not aimed against third countries," Medvedev said after the talks. "It is mutually advantageous and is not only our countries but also those who cooperate with us who will benefit from this cooperation," he added.... [read full story]