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Energy Blast – Jan 27, 2012

Gazprom Chief Executive Alexei Miller has told German newspaper Sueddeutsche Zeitung that Russia could respond with legal action to EU regulation which would increase the involvement of a third party in shipping gas to Europe through Russian pipes.  With just two months to go before the investment deadline, Russia’s Finance Ministry has apparently still not initiated discussion on tax breaks for the Gazprom-led Shtokman venture because the operator has failed to provide profitability estimates.  Having secured control of the country’s pipeline, Gazprom intends to increase gas export to Europe across Belarus by about 13% this year.  The gas giant has increased gas supplies to Greece as a matter of urgency as the country’s supplies from Turkey are disrupted by a cold snap.  On Sunday, Iran will debate a law which could cease exports of oil to the European Union as early as next week, says Reuters.   Gazprom and Novatek are experimenting with an Arctic Sea route to Asia.