RUSSIA SEES PROSPECTS FOR JOINT VENTURES WITH MALAYSIA IN OIL & GAS, NUCLEAR ENERGY

KUALA LUMPUR, May 14 (Bernama) -- Russian President Vladimir Putin said he sees prospects for joint ventures between Russia and Malaysia in the fields of natural gas and nuclear energy.

“Malaysia’s oil and gas company, PETRONAS, has equity capital in Rosneft, it has partnership ties with this company and is developing ties with this company, as well as with Gazprom,” he said.

Rosneft is Russia’s integrated energy company headquartered in Moscow, while Gazprom is a Russian majority state-owned multinational energy corporation headquartered in the Lakhta Center in Saint Petersburg.

Moscow, he said, supplies a considerable volume of oil products and coal to the Malaysian market.

“We see prospects for implementing joint projects in the field of gas and the peaceful use of atomic energy. In Malaysia, with the help of Russia, we have constructed a plant to produce synthetic rubbers,” Putin said at a joint press conference with Prime Minister Datuk Seri Anwar Ibrahim in Moscow, Russia.

“In the context of long-term contracts, we have established input from Russia of potassium and nitrogen fertilisers for Malaysian agriculture,” he said, adding that Moscow is also increasing the supply of agricultural products from Russia to Malaysia, such as grains.

“We are also going to increase exports to Malaysia of high (quality) meat and dairy products according to the Islamic halal standards,” he added.

In 2024, Russia was Malaysia’s ninth-largest trading partner among European countries, with total trade reaching RM11.46 billion (US$2.48 billion). Malaysia’s key exports to Russia include electrical and electronics products, machinery, equipment and parts, and processed foods.

-- BERNAMA

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