Energy Blast – April 6, 2012

According to Reuters, a high-ranking Chinese diplomat has urged the international community to use restraint in dealing with Iran for fear of retaliation.  Japan’s Energy Minister has recommended that the country seek to initiate the wholesale phase out of nuclear power.  Following the acquisition of two offshore blocks, Gazprom apparently has major plans to develop gas production in Vietnam.  Officials from Russian state-owned oil group Zarubezhneft have apparently met with Iranian officials to discuss upstream oil projects in the sanction hit Gulf state.  The Canadian province of Quebec has introduced a complete moratorium on shale gas development following a special report on its ecological implications.  Russia’s No. 2 natural gas producer Novatek has got its sights set on Cyprus, where a recent discovery has stimulated international interest.   Gazprom Neft CEO Alexander Dyukov has warned that the price for gasoline could jump up to 18% in the near future or fuel shortages could arise.  BG Group chief Sir Frank Chapman has expressed regret over the ‘unacceptable’ doubling of worker accidents.