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Energy Blast – Aug 4, 2010

Rosatom insists that Sarov, a nuclear center in Nizhny Novgorod, the region currently engulfed by fire, is not at risk from the flames, but the report also notes that 3,000 people are working to keep the fire away from the center, suggesting that the risk is actually fairly high.  Energy Minister Sergei Shmatko is playing down rumors that BP will sell its TNK-BP stake, as the company is hit with a new lawsuit over an alleged chemical leak at a Texas plant earlier this year.  The FT summarizes some of BP’s difficult recent history in Russia ahead of Robert Dudley’s visit.  PDVSA, the state oil company of Venezuela, is reporting a 53% earnings drop for last year on the back of lower international crude prices.  Delays on Gazprom projects mean that other international energy giants are winning key long-term LNG deals and scuppering the company’s original plans to gain 25% of the global market, says Bloomberg. ‘The LNG market is developing too fast for Gazprom to catch up.‘  Russia and Kuwait to partner up on nuclear power?