Energy Blast – Aug 17, 2011

Ukraine says it is not interested in striking a gas deal with Russia that resembles the one currently in place with Belarus: ‘Belarus is following its own path, and Ukraine has its own.’  Belarusian gas imports for 2011 are up 40% on last year’s numbers, and Ukraine is producing slightly less of its own gas this year than last.  Iran says that Moscow’s proposal regarding its uranium enrichment (a proposal which has not currently been made public), could provide ‘a basis for starting talks’ and looks like a ‘good strategy’. South Korea, Shell and Total have signed long-term agreements, worth $84 billion, to buy Australian LNG.  The Nord Stream pipeline is ready for gas deliveries, which are due to commence next month, says Gazprom.  Authorities in China are frustrated over ConocoPhillips’ failure to contain a two-month oil spill off its northeast coast.