Energy Blast – April 20, 2009

Azeri President Ilham Aliyev has said that he would like Russia to act as a transit route for Azerbaijan gas to Europe.  Medvedev feels Gazprom has a ‘very high chance of entering into a full agreement’ on buying gas from Azerbaijan.  Gazprom Neft will sell $299 million of bonds in rubles as a first offering of domestic debt.  In the future, Russia could export as much 40 million tons of biofuels to Europe.  Lukoil is apparently interested in entering the Italian wholesale and retail distribution market.  Rosneft has declined to comment upon reports in the Sunday Times that it may make a bid for Sibir Energy.  Chinese company CNOON says it will not purchase foreign oil firms during the global recession period.  Hungary’s new prime minister, Gordon Bajnai, is ‘unhappy’ with the Surgutneftegaz and MOL situation.  PetroChina Co. may pay up to $1.4 billion for a stake in a Kazak oil company.  Latvia will suggest to Gapzrom the company build a pipeline across its territory as an alternative to the Nord Stream.  The Obama administration will use Californian energy legislation as a model for national laws in an attempt to reduce carbon, reports the Times.