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Energy Blast – March 26, 2012

World leaders are gathered in Seoul today for the second global summit on the threat of nuclear terrorism.   In an article published in the Washington Times entitled “Seoul Summit: A view from Moscow”, Foreign Minister Sergei Lavrov has praised US efforts to combat this danger.  To mark the opening of the meeting, Ukraine has dispatched a 19-kilo consignment of enriched uranium to Russia for disposal.  US President Barack Obama has warned Iran that time is running out for the regime to justify its nuclear program to the wary international community.  Bloomberg considers whether the Fukushima disaster has really had an effect on the fortunes of the nuclear industry.  According to Deputy Finance Minister Sergei Shatalov, the Gazprom-led Shtokman Development in the Arctic will not receive any tax breaks.  Nor will Gazprom receive any extra tariff increases this year, says Vladimir Putin.  Is the fate of Lukoil’s possible foray into Trebs and Titov uncertain?  In a meeting with Vladimir Putin, Energy Minister Sergei Shmatko has called for long-term changes in the gas industry which would facilitate the work of independent producers.  Russia’s predominant oil producer Rosneft apparently plans to double its market value by 2030.