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Energy Blast – May 11, 2012

Russian Deputy Prime Minister Igor Sechin will apparently join the board of the state oil and gas holding company, Rosneftegaz, signaling that he will retain a prominent role in the energy industry even if leaves the next cabinet.  Oil majors Shell and Chevron will apparently be the likely winners of a battle to secure rights to explore and develop Ukraine’s potentially considerable shale gas fields.  Bloomberg reports that Ukraine is inviting Qatar to help build a liquefied-natural-gas terminal under a strategic partnership program to be signed in the fall.  Estonia is mulling whether to participate in Lithuania’s Visaginas nuclear plant project.  TNK-BP International, the main unit of TNK-BP has reported first quarter net profit declined to $2.18 billion from $2.62 billion a year earlier.  Matthew Hulbert examines how the race for the Arctic is heating up in Forbes.