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Energy Blast – June 8, 2010

The Moscow Times ponders the future of the Kovykta field as Gazprom leaves it to lie fallow.  A spokesperson for the Fund for the Protection of Lake Baikal has said that is unlikely that Russian mini-subs will be able to help plug the oil leak in the Gulf of Mexico.  With the BP oil spill warning companies off drilling, Bloomberg suggests oil prices are likely to go up.  Greece apparently hopes to extend the gas contract it has with Russia after the expiration of its existing agreement in 2016.  Gapzrom and Greece’s DESFA have agreed on regulation for the Greek section of the South Stream pipeline.  Learn here about what new natural gas deals between Turkey and Azerbaijan could mean for to Europe.  Iran has started building a $1.55 billion pipeline to export natural gas to the continent.  Vladimir Putin has asserted that Russia will develop its nuclear energy resources with international cooperation.  British oil explorer Rockhopper has said it will raise £48.5 million in a fully-underwritten placing to help it develop promising reserves at its Sea Lion well in the Falklands.  Rio Tinto Group’s $38 billion takeover of aluminum maker Alcan Inc. in 2007 apparently has glittering prospects.  The Times looks at the life of George Mitchell: ‘Texas billionaire, nonagenarian, and the father of shale gas’.