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Energy Blast – May 2, 2012

A subsidiary of Italian utility Eni, Saipem, has won an offshore-services contract from LUKoil to lay pipelines that will transport oil and gas from an offshore Caspian Sea field.  Mitsubishi Corp., Japan’s biggest trading company, and Mitsui & Co. agreed to buy a 14.7% stake in Woodside Petroleum Ltd’s proposed Browse liquefied natural gas project in Australia for $2 billion.  Ukraine has, according to this report, enough gas reserves for maintain self-sufficiency for 100 years – if their potential is realized.  The situation in South Sudan remains tense after it accused neighbor Sudan of launching an attack in an oil region of the newly independent state.