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Energy Blast – July 5, 2010

Ukrainian President Viktor Yanukovych has apparently suggested building a joint EU-Russia-Ukraine gas pipeline on its territory.  US Secretary of State Hillary Clinton has said that U.S. energy majors can assist Ukraine in reducing its dependency on Russian natural gas.  Total is reportedly not happy with the decision to impose a trade embargo on oil products to Iran as embargoes affect ‘common people’.  The company’s head, Christophe de Margerie, has said that oil prices could rise to $90 a barrel in the wake of the Deepwater Horizon spill.  There is a special report from Reuters on whether BP should use a nuclear explosion to stop the calamitous leak.  Gazprom is apparently eyeing BP’s interests in the Russian and the Caspian sea area in its potential asset sale.  Georgia plans to sell up to 15% of its main gas pipeline on the London stock market in two to three years, Prime Minister Nika Gilauri has told Reuters.  Bulgaria will apparently make a final decision on building an oil pipeline that bypasses Turkey’s Bosporus strait after an environmental assessment has been concluded.  Novatek has acquired a 100% equity stake in Tambeyneftegas, the holder of the exploration and production license to the Malo-Yamalskoye natural gas and gas condensate field.