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Energy Blast – Jan 18, 2010

Despite Western jitters over investing in Iran’s energy sector, the Iranian Oil Minister says the country is examining $20 billion worth of proposed foreign investments – no names were mentioned.  A blast in Ingushetia has left over 100,000 people without gas.  Preparatory work to be carried out this year on the South Stream pipeline is estimated to be completed by this fall, says Deputy PM Viktor Zubkov.  Sakhalin Energy has issued a tender to sell another cargo of its Vityaz crude.  Russia’s envoy to Azerbaijan says that the Nabucco and South Stream pipelines are not rivals: ‘they are mutually complementary. I would like to repeat that these gas pipelines cannot supply the whole of Europe with gas.‘ The Economist writes on British plans to increase wind power.  Drilling for natural gas in the US has reached a 10-month high.  GDF Suez, 35% owned by the French government, reportedly has made a tentative takeover offer for Britain’s International Power.