Alexander Novak

Oil price could fall to $30: Novak

Russian Energy Minister Alexander Novak said on June 10 he could not rule out a scenario in which oil prices could fall to $30 per barrel if the global oil deal was not extended.
Novak said there were big risks of oversupply on the market and that Moscow needed to monitor the oil market more in order to be able to take a balanced decision in July.

Russia agrees with Edison, DEPA to keep working on gas pipeline to Europe, says minister

Russia's Energy Minister Alexander Novak said on Tuesday he had agreed with Italy's Edison and Greece's state-controlled gas company DEPA to continue work on a pipeline project to ship Russian natural gas into Europe. 

Speaking at an event in Milan, Novak also said that the Turkish Stream Project was on track for first commercial gas at the end of next year.

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