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Energy Blast – Dec 10, 2009

The Economist reports on the first two days of the Copenhagen summit.  Ukrainian President Viktor Yushchenko has reissued his appeal for a drastic review of his country’s 10-year natural gas contract with Russia, making reference to ‘sarcasm and irony‘ in the Yalta agreements, signed last January.  Dmitry Medvedev says that any amendments to the agreements would be ‘irresponsible‘. According to The Times: ‘Everyone who cares about Ukraine’s independence should look suspiciously at the deal that Vladimir Putin, the Russian Prime Minister, has struck with Yuliya Tymoshenko.‘  Russia’s representative at the Gas Exporting Countries Forum in Qatar has been ‘unanimously elected‘ as the club’s first secretary general, after Energy Minister Sergei Shmatko emphasized the need to stabilize prices: ‘a sign that they recognize Moscow’s primary role,‘ says the Moscow Times.  State nuclear firm Rosatom expects revenues to rise by 37% this year, to $17 billion, and plans to build at least one new plant per year.  On the prospects for cooperation between the US and Russia in the realm of nuclear energy.  A natural gas pipeline linking Turkmenistan and China and ‘undercutting Russia’s near-lock on gas supplies in the region‘ is nearly operational.  Russia is considering easing its mining laws over concerns that they are deterring foreign investors and curbing development.  Iraq’s 15 oilfields are now available to the highest bidder.