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Energy Blast – July 27, 2009

Gazprom chief Alexei Miller has argued that the increase on gas extraction tax proposed by Vladimir Putin is unwarranted at the moment, and has suggested that an import duty for natural gas could instead raise funds.  Gazprom Neft claims to have repaid a $375 million loan to VEB ahead of time.   Ukraine is apparently on the verge of coming to an agreement on the gas sector, required by international lenders to guarantee loans.  The chief of Polish gas monopoly PGNiG has supported extending a gas supply deal with Russia until 2035.  Turkmenistan will reportedly sue Azerbaijan over the ownership of sub sea energy resources.  Russia may be about to sign a deal with Thailand, its first energy project agreement with a Southeast Asian country.  Nuclear energy could be a source of mutual interest for Vietnam and Russia.  The New York Times examines how Russia’s status as gas emitter and exporter makes its involvement in global climate change proposals a necessity.   Oil majors will have their last chance this week to appeal against oil reform legislation in Nigeria.