Energy Blast – Feb 19, 2010

President Dmitry Medvedev says Russia’s economy needs fundamental reform if it wants to reduce greenhouse gas emissions; the current goal is to reduce emissions by 25% of 1990 levels by 2020.  Shtokman Development might cancel its plans to build a liquefied natural gas plant within the Shtokman project, unless the global liquefied gas market shows positive development before its December 2011 deadline.  TNK-BP says it lowered its specific energy consumption for oil production by 3% in 2009, and is unveiling plans to develop its energy management systems for the coming year.  The $12 billion merger of Shell with Cosan could create Brazil’s largest biofuels company.  The Lithuanian prime minister says that Poland’s refiner PKN would be making a mistake if it ceded control on Lithuanian refinery Mazieiku.