Oil, diamonds, nuclear power: Russia eyes Africa business

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While Russia has traditionally focused on arms and grain exports to Africa, it is now looking to broaden its activities and influence.

Here are four sectors likely to be discussed at the Russia-Africa Summit set for next Wednesday and Thursday in the Black Sea resort of Sochi.—Russia is one of the world’s top hydrocarbon producers and exporters through energy giants like Gazprom, Rosneft and Lukoil.

For its part, Rosneft is investing in Egypt’s huge Zohr offshore gas field and is set to be involved in some 20 projects with Nigeria’s Oranto Petroleum energy group.Africa is almost entirely lacking in atomic energy, with just one nuclear power station on the whole continent, in South Africa. So far only Egypt has signed an agreement to build a station, one with four reactors at Dabaa on the Mediterranean coast by 2028 or 2029.

 

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