Russia hopes Libyan will uphold contracts

Moscow expects Libya's new authorities to uphold commitments under contracts signed during the Muammar Gaddafi-era, the Russian Energy Ministry said on Monday. "Russia expects further fruitful cooperation in the energy field with Libya," Alexander Sukhov, head of the ministry's international cooperation department, was quoted in a statement as saying. "We proceed from the fact that the new Libyan authorities should fulfill the previous government's obligations before foreign companies with which it signed contracts in strict accordance with international legislation," he said. Russian energy companies LUKoil, Tatneft and Gazprom and its oil arm Gazprom Neft had projects in Libya under contracts signed by the previous government. But the National Transitional Council has said that all existing contracts would be reviewed. The Russian companies suspended their operations during the fighting in Libya.