Energy Blast – May 14, 2009

‘Everything is murky in this part of Europe where Russia continues to expand its grip over the energy sector’: the New York Times looks at the shady dealings surrounding Emfesz.  After refusing to sign the EU-led Nabucco deal, the president of Kazakhstan, Nursultan Nazarbayev, has signed a law that would allow another pipeline to Russia to be built.  Turkey may pay between $16 and $20 billion for a Russian nuclear plant.  Stroitransgaz has signed a deal with Transneft to construct a section of the Baltic Pipeline System-2.  Bangladesh and Russia have come to an agreement on plans for a nuclear power station in a move to counteract the country’s energy shortage.  Croatia’s state-owned gas pipeline operator Plinacro has signed a deal with the European Bank for Reconstruction and Development for a $95 million loan to fund its takeover of the country’s gas storage industry.  Brazil is being advised to create a new state-run oil company to oversee some of its oil reserves and should establish a production-sharing model in other areas.  China National Offshore Oil Corp has signed an agreement with United Kingdom-based BG Group on a liquefied natural gas project to be developed in Queensland, Australia.