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Energy Blast – April 24, 2012

The Hungarian Prime Minister says the Nabucco oil pipeline is in trouble, and that MOL will pull out of the project due to ‘many uncertainties that would be hard to ignore’.  The oil spill at the Bashneft/Lukoil Trebs and Titov field is estimated to have been about 2,200 tons.  Mongolia may abandon plans to find foreign investors for its Tavan Tolgoi coal mine.  Russia’s Rosneft and Italy’s ENI are in talks to start a venture to develop the Val Shatskogo project in the Black Sea.  China’s shale gas industry is anticipated to take off within the next decade, whilst delays in production boost LNG imports ‘and curb expectations the country can replicate the U.S. shale boom.