Iceland and Russia have signed a cooperation agenda regarding geothermal energy.
The agreement was signed yesterday by Icelandic Minister of Industry Energy and Tourism, Katrín Júlíusdóttir, and Sergey Shmatko, the Minister of Energy in Russia.
Russia wants to utilize geothermal energy better and Iceland seeks new ways to utilize the vast geothermal resources in the country.
Both countries believe they will gain significantly from the cooperation.
An energy summit in Moscow this week saw Ms. Júlíusdóttir address geothermal matters in Iceland and the forthcoming cooperation with Russia.
As Arctic Portal has reported, Iceland has looked to Russia for more cooperation and the agreement signed this week was a step in that direction.
Source: Ministry of Foreign Affairs in Iceland