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Energy Blast – April 17, 2009

Russia’s greenhouse gas output has reached its highest level since the 1990s.  Prime Minister Putin has taken a conciliatory tone in the Turkmenistan dispute, encouraging energy specialists ‘to maintain close contacts … with our strategic partners … Uzbekistan, Kazakhstan and Turkmenistan’.  This coincides with Medvedev’s imminent meeting with Azerbaijani President Ilham Aliyev to discuss gas deliveries from Azerbaijan.  Germany’s RWE has come to an agreement with Turkmenistan to develop ways of delivering gas to Europe.  Bulgarian President Georgy Parvanov and Qatar’s Emir are considering the possibility of building a LNG terminal in Bulgaria.  The EU member states have come to an agreement to use $5.3 billion of unused funds for energy efficiency measures.  Russian companies have scrapped plans to make bioethanol from grain, due to legal obstacles.  This year a group led by Exxon Mobil will invest approximately $2 billion into Russia’s Sakhalin-1 oil and gas project.  China will offer a $10 billion loan to Kazakhstan in exchange for a stake in the country’s oil production.  Lukoil will go ahead with exploration in Saudi Arabia after a major find in the desert.