Energy Blast – Jan 16, 2012

Despite obvious differences of opinion and continued failure to reach a new formula for gas prices, Ukraine has promised that there will be no new energy war with Russia.  ‘Why should we go to war with our Russian brothers?’  Gazprom reportedly offered to buy Ukraine’s entire natural gas pipeline system for $4 billion, but Ukraine would prefer to establish an international group to manage the network.  Ukraine is planning to increase its coal output this year to 84 million tons.  Environmentalists are protesting Rosatom’s newly-announced plans to sent spent nuclear fuel to storage facilities in Siberia.  A minor shareholder in TNK-BP is pushing ahead with a multibillion-pound shareholder action against BP, claiming that his company was damaged by BP’s involvement in the Rosneft deal which collapsed last year.  The Renda, Russia’s tanker mission to carry emergency fuel supplies to the Alaskan port of Nome, was successful.  Lukoil’s crude output dropped more than 5% last year.  A new agreement with Russia will see Belarus saving $30 per ton of oil.  Gazprom is trying to scupper plans to establish a special economic zone in Murmansk by threatening to cancel plans for a new LNG plant there if the SEZ goes ahead.  Analysts are concerned about Britain’s dependence on Qatari liquefied natural gas.