Energy Blast – Feb 11th, 2009

Does Ukrainian President Viktor Yushchenko’s fury about the Ukraine-Moscow gas deal have anything to do with rumors of his close ties to the intermediary RosUkrEnergo, which the new agreement sidelines?, wonders Yulia Latynina.  A start date for the Nabucco pipeline project is likely to be set at an EU energy security summit, tentatively scheduled for early May.  The Federal Anti-Monopoly Service says it will not approve the creation of a state-owned metals monopoly, although Norilsk Nickel and Metalloinvest may be permitted to merge.  LUKoil has received a three-year, 1 billion euro ($1.3 billion) loan from Gazprombank, the second-largest in the oil company’s history.  Gazprom has yet to make an official decision about its investment plans for the coming years, but says that it plans to go ahead with its giant Shtokman gas field, despite the current drop in demand.  It did suggest however, that this drop may force it to cut deliveries to Europe.