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Energy Blast – March 22, 2010

Ukraine’s newly-appointed government is in the process of updating its gas agreement with Russia, seeking lower prices in exchange for allowing Russia access to its energy infrastructure.  The Russian Orthodox Church has asked the Kremlin to lower gas prices for Ukrainian chemical companies, saying it was a ‘sensible initiative‘ to assist the companies, which help the Ukrainian church.  Shale gas has been dominating energy news of late, but analysts say it will be a decade before meaningful volumes are flowing.  The International Finance Corporation will give an Indian solar power project $10 million in investment, in a bid to make the technology commercially viable.  Petrobras is to pour at least $200 billion over the next five years into the development of new oil fields off the coast of Brazil.