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Energy Blast – May 24, 2012

Russia’s Foreign Minister Sergei Lavrov says Iran is ready to negotiate on its controversial nuclear program.  Gazprom, which plans to raise investment even further this year, has again delayed crude production at Russia’s first delve into offshore Arctic oil, the Prirazlomnoye field.  Apparently the energy monopoly is reconsidering the composition of the consortium to develop the Shtokman offshore gas project, signaling uncertainty over the project’s future.  French major Total has reportedly asserted that it will retain its 25% stake in the Shtokman project.  Bloomberg reports on how opposition to fracking has stimulated a new set of export opportunities for US producers who are suffering domestically.  Turkmenistan has agreed on a natural gas deal to supply gas to Pakistan and India, through the TAPI pipeline project, but questions remain about the viability of the Afghan section of the pipeline.   On Gazprom’s plans for Bolivia’s Azero field.