Gazprom has promised to fill the ongoing shortfall in gas flows to Italy by the end of this week. TNK-BP will spend $12 billion developing four oil fields in the Yamal region with are expected to add 15 million tons of oil to output. By 2017, Russia’s electricity consumption could be up to 1.184 trillion kW per hour, or 18% higher than 2010 levels. Venezuela has approved a joint venture between state-run PDVSA and Gazprombank aimed at strengthening energy operations. Holland’s TenneT will sell its minority stakes in two German offshore cable projects to Mitsubishi Corp for €240 million.