Energy Blast – Dec 27, 2010

Ukrainian President Viktor Yanukovych has attempted to steer attention away from the South Stream pipeline by offering Russia and the EU the chance to take part in upgrading and overseeing the Ukrainian gas transport system, arguing this is a more attractive package than the new pipeline in financial terms.  Belarus is apparently hoping for a discount from Russia in 2011 on a problematic gas contract.  In 2011, Gazprom will apparently spend 25% of its capital investments budget on developing fields in Yamal.  The Russian gas exporter and Eni have extended their agreement on strategic partnership for another year.    Bloomberg reports that Croatia’s INA Industrija Nafte plans to buy an oil field in western Siberia, with daily production of up to 600 barrels, from Hungary’s Mol Nyrt.