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Energy Blast – Nov 17, 2011

Russia says that early reports about a new gas deal with Ukraine are premature because nothing has been signed.  North Korea will get $100 million per year if it becomes a transit country for Russian gas supplies to South Korea – ‘a huge sum for a country with annual gross product of $10 billion’.  General Electric has signed a $100 million deal to build a wind energy park in Mongolia.  Bloomberg reports on the Kashagan oil project – ‘the world’s biggest discovery in four decades’ – which is currently running 8 years behind schedule.  Iraq’s oil boom is being hampered by an estimated 25 million landmines and other unexploded bombs.  China’s third gas pipeline between its own regions, supplied mainly by Turkmenistan, Uzbekistan, and Kazakhstan, will be fully operational by 2013.  Gazprom Neft estimates this year’s investments at $5.66 billion; overall, Gazprom estimates that it will make a total of $51 billion in investments for 2011, the world’s highest in the oil and gas industry.  Russia’s World Trade Organisation negotiator discusses plans to use the country’s membership to defend the interests of Gazprom.