January 16, 2019 / 8:08 PM / 5 months ago

Russian sovereign wealth fund to boost deals with Saudi Arabia

FILE PHOTO: Cheif Executive Officer of Russian Direct Investment Fund, Kirill Dmitriev waits before a meeting of Russian President Vladimir Putin with representatives of the foreign business community on the sidelines of the Eastern Economic Forum in Vladivostok, Russia September 11, 2018. Valery Sharifulin/TASS Host Photo Agency/Pool via REUTERS

MOSCOW (Reuters) - Russian sovereign wealth fund RDIF said on Wednesday it was poised to significantly increase its number of investment deals with Saudi Arabia.

Kirill Dmitriev, the head of the fund, met Saudi Energy Minister Khalid al-Falih and other Saudi officials in Riyadh to discuss projects in oil refining, petrochemicals, gas chemicals and oilfield services, among other fields, RDIF said in a statement.

The fund said last month it was considering investing in Novatek’s (NVTK.MM) Arctic LNG project with Saudi Aramco IPO-ARMO.SE.

Falih said on Wednesday Saudi Aramco was serious about buying a stake in the project but that they had not yet agreed to a price and terms.

Reporting by Gabrielle Tétrault-Farber; Editing by Janet Lawrence

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