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Russian Government and Transneft Sign Agreement on Investing in High Technologies

Date of publication: 13 October 2021

Pictured (left to right): Deputy Chairman of the Russian Government Alexander Novak and President of Transneft Nikolay Tokarev

Russia’s Vice Premier Alexander Novak and Transneft President Nikolay Tokarev signed agreements of intentions between the Russian government and Transneft about investing in hi-tech projects, as reported by a TASS correspondent present at the signing event that took place during the Energy Week 2021 in Russia.

The agreement implies that Transneft will be able to fund certain lines of hi-tech development by entering into investment agreements with RDIF MC “on the principles of profitability and repayment of invested funds.”

The Russian government will ensure collaboration between the federal executive authorities and research institutions involved in the development of promising hi-tech endeavours, while contributing to the creation of a comfortable regulatory environment and thrashing over tax incentives in this area.

Adapted from TASS materials
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