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Energy Blast – April 28, 2008

Azerbaijan has blocked a Russian shipment of nuclear equipment to Iran. Iranian President Mahmoud Ahmadinejad will visit India and Pakistan this week to discuss plans for an Iranian gas pipeline. Gazprom CEO Alexei Miller could offer Romano Prodi, who steps down as Italy’s premier in early May, a top post in the South Stream gas project. The Times discusses the “myth” that the world is running out of oil. Japan and Russia’s governments have agreed to cooperate on oil exploration in eastern Siberia. Oleg Deripaska wants to form a partnership with Glencore International, the world’s largest commodity trader, to run Russneft if he succeeds in purchasing the crude producer. Reflecting Russia’s desire to have 25% of its electricity come from nuclear power by 2030, Uranium Holding, the state-owned mining company, may spend $8.6 billion to triple output with help from Deripaska, Canada and Japan.