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Energy Blast – April 12, 2010

Prime Minister Vladimir Putin’s failure to attend the ceremony marking the start of construction on the Nord Stream pipeline was a surprise to participants, says the Moscow Times, although President Dmitry Medvedev was on hand to sign the new pipes.  Analysts take the no-show as a reminder of Putin’s ‘supremacy‘.  Russia could lend Ukraine up to $6 billion to help it fund the construction of two nuclear reactors, and meanwhile the current price Ukraine pays Russia for gas is under discussion, with Prime Minister Nikolai Azarov saying that a lower price would help the country stabilize its economy.  This article argues that Russia’s energy companies are too closely tied to Western financial backing for energy to be used as a political bargaining chip.  On Britain’s increasing use of expensive biofuels for transport.  The two-day nuclear security summit, which starts in Washington today, ‘is a chance for Russia to promote itself as a global leader on the crucial issue‘.  TNK-BP is to boost its exploration drilling by 37% this year.  Sakhalin region companies exported over 3.5 million tons of crude oil in the first quarter of 2010.  The merger of Mirant and RRI Energy will create GenOn Energy, one of the largest independent power producers in the US.