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Energy Blast – May 14, 2010

Apparently the US is observing ‘good progress’ in the talks on sanctions against Iran.  Russian Foreign Minister Sergei Lavrov has urged the West to defer from imposing unilateral sanctions.  Brazilian President Luiz Inacio Lula will head to Tehran today to attempt to redouble negotiate efforts.  Gazprom CEO Alexei Miller has called the idea of a merger with Naftogaz Ukrainy ‘an absolutely pragmatic solution’.  Meanwhile Ukraine’s President Viktor Yanukovych claims that Ukraine has received no specific proposals from Russia, and that anyway, the idea is ‘impossible’.  Gazprom has reportedly rejected Kiev’s idea to involve the EU in any possible merger talks.  According to Ria-Novosti, Yanukovych says he has no concerns about the Ukraine-bypassing South Stream pipeline.  Turkey reportedly won’t take a stake in the nuclear power plant that Russia will build on the Turkish Mediterranean coast.  Energy, in particular Russian investment in Brazilian power sources, will be a major theme at today’s meeting between President Luis Inacio Lula da Silva of Brazil and Dmitry Medvedev.  A natural gas platform has sunk off the coast of Venezuela, due to a malfunction in its flotation system; Aban offshore limited shares are feeling the effects.  Gazprom is apparently moving closer to scooping a major new client: China.