Energy Blast – Sept 16, 2011

TNK-BP is planning a $45 billion investment in exploration and production to span the next decade, and aims to increase output by 1-2% a year.  Gazprom is in talks to run a gas pipeline from Russia to the Korean Peninsula, and has apparently already signed a road map for the project with South Korea’s Kogas.  The project was initially stalled due to political risks.  Russia is eagerly anticipating the resumption of energy cooperation with Libya, urging a return to previous contracts – although the outcome of already-existing contracts remains uncertain.  Lukoil is working on the development of alternative energy projects in Uzbekistan.  India looks set to come up with a framework for shale gas exploration early next year.  Egypt has its sights on exporting its gas to Turkey, amid worsening relations with Israel.