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Energy Blast – March 24, 2011

Reuters has summarized global government responses to nuclear safety issues since Japan’s Fukushima disaster, including Russia’s Turkish and Bangladeshi projects in its list.  Extra supplies of LNG sent to Japan will not divert gas away from Europe: there is ‘ample supply‘ in the market, with shipping data showing twice as many tankers heading for Europe as for Japan.  Industry experts insist that Russia’s 15% price hike for household electricity is ‘essential to stimulate investment in Russia’s aged power plants and prevent a collapse of the system‘, but it’s a ‘politically risky‘ move, says Isabel Gorst.  In the event of regime-change in Libya, Tatneft has estimated that it could lose roughly a quarter of a million dollars.  The troubled political situation in Yemen has seen international oil companies evacuating staff: ‘Yemen accounts for only a small proportion of global oil and gas supplies but the country’s location means the decision will rattle nerves in the oil market.‘