Energy Blast – Feb 24, 2012

Gazprom is aiming to stop all gas transit via Ukraine when it builds new pipelines later this decade, blaming it for supply shortages to European customers this winter.  Ukraine has opened up its shale gas reserves to exploration, and plans to hold two tenders for rights to explore in two areas.  Greek refiner Hellenic Petroleum says it will have no trouble replacing sanctioned Iranian supplies with alternatives from Saudi Arabia, Iraq and Russia.  The ban on Iranian oil ‘may end up breathing new life into the country’s ageing oilfields’, analysts say.  Italy’s Snam and Belgium’s Fluxys are pressing ahead with plans to create a European gas transit network, agreeing to buy Eni’s stakes in a series of assets across northern Europe.  Transneft’s charitable works last year included the construction of a $186 million aquarium in Vladivostok.