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Energy Blast – Nov 2, 2011

Talks between China and Russia on a mammoth gas export deal, which has been in the pipeline for five years, are apparently developing well.   According to Chinese Vice Foreign Minister Cheng Guoping, ‘the negotiations are in the final phase’ ahead of a St Petersburg meeting between both states next week.   The Moscow Times reports that a lack of transparency makes it extremely difficult to ascertain the extent to which Russia’s economy is carbon intensive, because Russian companies reveal less emissions data than any other country.  In October, cuts in the crude export duty resulted in Russia’s oil production reaching a post-Soviet high of 10.34 million barrels per day. Russia’s Gazprom Neft and Italy’s ENI have revived their joint venture in Libya, following the toppling of the Gadaffi regime.  South Korea may start receiving Russian pipeline gas in 2017.  Gazprom, Rosneft and TNK-BP are among ten bidders for as much as 100% of state-owned rail carrier SG-Trans.  Bangladesh has announced it will sign a government-to-government deal with Russia to construct a nuclear facility.   The FT reports on the numerous benefits of shale gas extraction for Poland, home to Europe’s largest reserves.