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Energy Blast – June 20, 2011

In a video interview with BP CEO Bob Dudley, the company chief affirmed a commitment to its Russian joint venture TNK-BP and exploration prospects in Russia as a whole.   Shell and Gazprom Neft have, Reuters reports, signed an agreement to pursue potential joint projects in Western Siberia and outside of Russia.  Despite a recent wobble in their partnership, Rosneft is apparently talking to Chevron about possible cooperation in the search for Arctic oil.  See here an interview with Alexander Medvedev, deputy chief executive officer of Gazprom, about prospects for the stalling Russia-China gas deal this year.  Gazprom may consider becoming a shareholder in new German power plants, chief executive Alexei Miller told reporters at the St. Petersburg International Economic Forum.  The Romanian government has started initial talks with the European Investment Bank to find funds for state-owned natural gas grid operator Transgaz SA to help build the Nabucco Pipeline.  Russia is apparently ready to invest $71.2 million in gas and electricity distribution networks in Armenia.  The International Energy Agency which represents consumer countries, has reportedly invited Russia and other producer nations to join it.