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Energy Blast – June 6, 2011

The Obama administration has, according to the Moscow Times, voiced strong support for a Southern Corridor pipeline to export natural gas from the Caspian region to Europe, which would decrease the necessity for Russian supplies.  The chief executive of the French energy giant Total has expressed confidence that OPEC will help to ensure there is no shortage of oil supply in the market.  According to the Telegraph, Valero, the US refining giant which is considering buying Chevron’s oil refinery in Wales, is considering whether an explosion which killed four people at the site this week could affect the purchase.  In a new deal with Petronet LNG worth more than $32 billion, Gazprom will deliver up to 2.5 million tonnes of liquefied natural gas a year to India.  Cairn Energy has apparently restarted drilling in Greenland after Greenpeace activists were removed from its exploration vessel.