By Prensa Latina,
Moscow : The energy sector can become the engine of cooperation between Russia, Venezuela and Latin America, Russian First Vice President Igor Sechin said in a meeting of the presidium of the cabinet of ministers on Monday.
Speaking about a recent working tour of Cuba, Venezuela and Nicaragua, the top official pointed out that Russian and Venezuelan companies are weighing the creation of a consortium to work in Latin America.
Moscow will supply Venezuela with oil-extracting technologies and Russian-made broadband wireless communication equipment, according to a source from the state-owned corporation Rostechnologyi.
Consortium Director Sergei Chemezov noted that as part of a program to recover oil from the so-called oil swamps, the firm Raznoimport has built two facilities and two others are on their way to Venezuela.
A Russian-Venezuela joint venture was set up to boost the project, which is aimed at recovering oil worth 200 million dollars a year, which will be used to finance other bilateral collaboration programs, he added.