Energy Blast – July 23, 2009

Russia has approved a $4.1 billion atomic energy plan.  Medvedev has announced that the Security Council will discuss a series of projects on the use of supercomputers to analyze the efficiency of the country’s nuclear deterrent.  The  major response to Gazprom’s bonds, through which it has raised $1.3 billion and €850 million, reflects a renewed interest in emerging market risks, says the Moscow Times.  Sakhalin Energy, the Gazprom-led joint venture in Sakhalin Island has exported its 200th crude oil cargo since production commenced in 1999.  Gazprom may postpone development of the major Shtokman gas condensate field in accordance with market conditions.  Bloomberg reports that China bought a spot liquefied natural gas cargo from Russia at a record low price last month.  Mol, Hungary’s largest refiner, may be looking to sell its 50% stake in the Zapadno Molobalykskoye field in Siberia.  Nuclear Agency Chief Sergei Kiriyenko has apparently said that the Russian-built Bushehr nuclear power reactor in Iran will start up by the end of this year.