Commodities, Emerging Markets, Energy, Frontier Markets, Stocks

Russia’s St. Petersburg International Economic Forum Sees Contracts Worth $5.4 Billion

SPIEF 2015 -2The number of contracts signed during the International Economic Forum in St. Petersburg in Russia completely refutes the picture of Russia’s economic isolation as 205 deals estimated at $5.4 billion were signed. 

Let’s look at the numbers closer to get a better overview of the forum.


205 contracts valued at around $5.4 billion



175 contracts valued at around $7.4 billion

(according to Anton Kobyakov, the executive secretary of this year’s economic forum organizing committee)

This year:

  • 10,000 representatives (vs. 7,590 last year)
  • 120 visiting countries (vs. 73 last year)
  • 2,000 journalists

The Forum’s events were attended by top officials from Greece, China, Kyrgyzstan, Myanmar, Mongolia, Saudi Arabia, Bahrain and Iraq. SPIEF was also attended by eight former heads of state, some 200 CEO-level executives of foreign companies and 1,500 of their Russian counterparts,” RT reports. The event gains more and more traction every year and many refer to it as “Russian Davos

A Russia-Greece gas deal estimated at €2 billion that will create a special enterprise for constructing the Turkish Stream pipeline across Greece was probably the most remarkable deal struck at the forum.

There were more remarkable deals signed during the event according to RT:

The so-called ‘Nord Stream 2.0’ gas agreement between Gazprom, Shell, E.ON and OMV was another major deal at the Forum. The companies signed a memorandum of intent to lay two additional gas pipelines under the Baltic Sea, with a capacity of 55 billion cubic meters per year. The new infrastructure, which will follow the route of Nord Stream, is expected to ensure direct supplies of Russia gas to European consumers.”

Bloomberg also reported the following:

BP Plc will pay OAO Rosneft $750 million for a stake in an East Siberian oil producer, following Royal Dutch Shell Plc’s plans to expand a natural gas export project in Russia.

BP will take a 20 percent stake in Taas-Yuriakh Neftegazodobycha LLC in Russia’s Far East, according to statements from Rosneft and BP. The companies will also jointly explore areas in Siberia and, if successful, form a venture with Rosneft holding 51 percent. Holdings in their German refineries will be reorganized as well, the partners said.

About ETFalpha

Chief ETF Strategist & Co-Founder at EMerging Equity


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