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Energy Blast – June 15, 2011

Several reports today focus on the ongoing negotiations between Russia and China on a mammoth thirty-year energy deal: in a video from Bloomberg with Stephen O’Sullivan, managing director of equity research for Asia ex-Japan at Barclays Capital, he suggests the deal will probably not be concluded on this round of talks.  The BBC also has a report on relations between the one of the world’s biggest gas exporters and its energy-thirsty neighbor.  Apparently a lack of rain has caused electricity supply to fall in China, putting more pressure on the government to seek alternatives sources for summer.  According to this report, China and Kazakhstan are stepping up cooperation on nuclear and alternative energies including solar and wind power.  As Germany goes cold on nuclear power, Russia’s prospects for export look warmer.  A British judge has rule that the Dutch remnant of bankrupt Yukos Oil can seek $160 million in interest on arbitration awards from Rosneft.