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Energy Blast – June 14, 2011

If China agrees to pay European prices, the energy-thirsty nation may have to pay $700 billion over thirty years for Russian gas in a new landmark agreement between the two countries.  Energy Minister Sergei Shmatko has told journalists there is enormous potential for the ‘unique’ energy cooperation between Russia and China.  Could the plan to build the world’s most expensive natural gas pipeline turn out to be an elaborate bluff?’  Russia’s electric power company Inter RAO has apparently restored electric power supplies to Belarus in full, after a cut due to unpaid bills.  Is the South Chain Sea an exotic Arctic?  Apparently China has vociferously opposes external powers meddling in territorial disputes over the body of water which is said to be resource-rich.