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Energy Blast – May 12, 2010

Energy was firmly on the agenda at President Medvedev’s meeting with Syrian counterpart Bashar al-Assad.  Russia may apparently help build a nuclear power plant in the Middle East state, a move that could that could perturb the West due to some suspicions towards Damascus’ (alleged) clandestine nuclear activities.  Turkey’s Energy Minister apparently hopes that agreements over the construction of a nuclear power plant will be made during President Medvedev’s trip to Turkey today.  North Korea, has, according to the New York Times, succeeded in creating a nuclear fusion reaction.  Why the presence of shale gas in Poland is so appealing.  Energy Minister Sergei Shmatko has stated that the South Stream project and a possible merger of Gazprom and Naftogaz are not connected with each other.  Oil company Total might be preparing for new significant investments in the Barents Sea, Norwegian analysts believe.  The Organization of Petroleum Exporting Countries has upped its estimates for global oil demand in 2010 due to positive prospects for economic growth in China.  The construction of an oil pipeline connecting the Black Sea with Turkey’s Mediterranean port of Ceyhan will apparently cost $3 billion.  The ambiguity of China’s nuclear strategy is discussed in the Financial Times.