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Energy Blast – June 29, 2011

As planned, Russia has cut off its electricity supply to Belarus (which makes up roughly 10% of the latter’s power needs).  TNK-BP is trying understand why it was temporarily excluded from Transneft’s pipeline export route to Poland, as it receives third quarter allocations well below its typical volumes: ‘an absurd, non-transparent action forces us to be in a position where we cannot fulfill a commitment to an internationally reputable company.‘  Russia is proposing to jointly develop oil and natural gas resources with Japan on Kunashiri, one of the disputed Kuril islands.  It looks like Iran’s Bushehr nuclear plant will be ready for a launch in early August.  Norway’s $1 billion carbon capture and storage scheme, to be launched this year, will be the world’s biggest test facility for capturing greenhouse gas emissions.