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Energy Blast – June 21, 2011

The European Investment Bank says it believes Germany will be able to fund its plan to replace nuclear reactors with renewable energy stations by 2022.  Russia and China have not given up on the possibility of finalizing a deal on gas pipeline supplies; the two sides hope to agree on a price at some point this year, and to begin deliveries in 2015.  India’s ONGC is reportedly in talks to merge its Russian assets Bashneft and Russneft, although the company denies reports that the Indian cabinet had given its approval for such a move.  Gazprom has revealed that it has delivered three extra cargoes of LNG to Japan since Fukushima, and says that it is prepared to meet extra Japanese demand in the longer term, with two further cargoes planned for July.  A new Royal Dutch Shell project off of Western Australia ‘could intensify the growing rivalry between Qatar and Australia for the title of the world’s leading natural gas liquids exporter‘.  Sri Lanka is awaiting a Russian team of energy experts to discuss joint oil exploration and refining projects.  Pakistan is seeking Chinese assistance to capitalize on its hydrocarbon potential.