Brief - Bush eyes Russian oil and gas fields 

Speaking to Itar-Tass on 23 February, Sergei Prikhodko, a Putin aide, said the two had objective reasons to be interested in a close energy partnership as the US is the largest global consumer of energy and Russia a large supplier of both oil (second exporter after Saudi Arabia) and natural gas.

Russia, Prikhodko continued, is interested "in the development of energy-saving technologies, and in the joint search for alternative sources of energy". He also mentioned "the development of new natural gas fields, and technologies for liquefying and transporting gas to the North American market" as part of Russia's interest with the US.

The country, however, is reluctant to open its energy market. Energy minister Iouri Trounev on 10 February declared that only companies owned by at least 51% of Russian capital will be granted licences to exploit oil and gas fields in Siberia, a stance which is causing concern to US President Bush.