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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Russia dominance under threat as UAE makes plan for Caspian gas

Posted on 24 May 2010

From Gulf-times.com: The UAE is tapping its $328bn sovereign wealth fund to invest in gas-rich Turkmenistan, seeking fuel for its own use while potentially challenging Russia’s dominance as a supplier to Europe.
“We want to invest and we’ve been conducting negotiations for a long time,” UAE Oil Minister Mohamed al-Hamli said in an interview this month in the Turkmen capital, Ashgabat. “We have a special relationship with Turkmenistan. There is a genuine interest and a genuine determination with both countries to exploit this possibility.”……………………………………..Full Article: Source


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