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Energy Blast – June 10, 2009

Lithuania is the latest state to raise concerns about the environmental damage that may stem from the Nord Stream pipeline.  Gazprom is hoping that once its two Arctic LNG projects begin, it will supply as much as 10% of the US gas market by 2020.  A Moscow Times contributor comments on the St Petersburg Economic Forum: ‘I realized that the main point of the conference boiled down to one session only – the one titled: What is the Price of Oil?’  An article in the Times compares the recent problems of BP and Shell with the good fortunes of ExxonMobil; will the two companies consider a merger to prevent a possible takeover?  The BBC has a full report on gas in Europe, citing an interview with Gazprom executive Alexander Medvedev: ‘if Europe doesn’t need our gas, then we will find a way of selling it differently’. RFE/RL analyzes the conflict between Russia and the EU over energy.  Gazprom is holding talks with Novatek over potential cooperation in northwest Siberia, on the Yamal Peninsula, a project that could produce 250 billion cubic meters of gas a year.