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Energy Blast – May 27, 2009

Rosatom has sealed the deal to supply the US with uranium fuel, which represents the first commercial energy contract between Russian and US companies.  As the appeal of renewable energy suffers, Russia is apparently hoping to establish itself as a leader in the nuclear market, with the help of ‘global alliances’.  Gazprom Neft has extended its purchasing of shares in Sibir Energy to a full takeover offer, representing the state’s first extension towards controlling the assets of debt-struck oligarchs.  ‘How long is the Kremlin prepared to tolerate Gazprom’s massive waste of resources?‘ – is the troubled company treading on thin ice? wonders a commentator in the Moscow Times.  The battle for the position of CEO at TNK-BP hots up again as the consortium of four Russian billionaires behind Alfa-Access-Renova may suggest Maxim Barsky as a rival candidate to Pavel Skitovich, BP’s chosen candidate.  Gazprom may join a venture to construct a natural gas pipeline from Iran to Pakistan, which would deprive the Nabucco pipeline of one resource base.  Rosneft plans to start work on oil and gas prospecting off Abkhazia.