Energy Blast – Dec 28, 2009

Good news for Russia – the price of oil is at a four-week high.  Prime Minister Vladimir Putin has launched the Kozmino port, a $2 billion Pacific oil terminal aimed at ‘conquering Asian markets‘, funded by Transneft.  Ukrainian Prime Minister Yulia Tymoshenko insists that her country would have no trouble paying for gas deliveries next month: ‘we, Ukraine, are clearly and assuredly conducting our financial life in the crisis‘.  Gazprom chief executive Alexei Miller backed up Tymoshenko with a vote of confidence today, after news last week that January oil exports to Ukraine would have to be scrapped.  Gazprom has canceled a 2010 corporate party after paying low dividends for a second year running.  The company is eager to come to an agreement on gas supplies from Sakhalin-1 next year.  On Lithuania’s increasing energy-dependence on Russia.