Energy Blast – Feb 26, 2010

Russia has begun work on a new nuclear power station in Kaliningrad, to the concern of local residents and ecologists, despite Rosatom’s assurances that the project is completely safe.  The Federal Customs Service could be ready to continue its export-duty duel with Gazprom if the company agreed to new rules on disclosing pricing for foreign clients.  The former says the measures would increase transparency; the latter that they would decrease company revenue. Gazprom is considering swapping part of its stake in Novatek for 51% of Sibneftegaz and merging it with another small company, apparently due to concerns about Novatek’s partnership with oil trader Gennady Timchenko.  The President of the Council of the Russian Union of Oil and Gas Producers has given an interview on his thoughts on stabilized oil production and the endurance of the oil era.  The failure of the Copenhagen negotiations will not prevent Russia from meeting its objective to cut emissions by 25% by 2020, says Dmitry Medvedev.  Japan’s Mitsubishi Power Systems is planning to invest £100 million in new research and development for offshore wind power in the UK.