Energy Blast – May 6, 2009

‘The European Union is finally getting serious about ensuring the diversity of its energy supplies’: RFERL reports on the upcoming southern corridor energy summit.  The Other Russia analyzes Deputy Prime Minister Igor Sechin’s recent comments about a possible energy shortage.  Russia will soon start building the world’s first offshore nuclear plant in St Petersburg.  Russian oil company Tatneft hopes for between $1 billion and $1.2 billion in additional financing this year.  ‘We do not believe the data supports a theory of returning output growth in the country’: experts are dubious about Russia’s claim to return to higher output of crude oil production.  The Nabucco pipeline may get an unexpected boost in the global downturn, the Wall Street Journal suggests.  Exxon-operated Sakhalin-1 has agreed to sell 20% of its natural gas extracted to Russian gas export firm Gazprom.  Brazil claims to have discovered major potash reserves, enough to make it the third largest potash holder in the world.  In Venezuela, the state has received initial approval to seize a group of oil providers to settle a question of unpaid debts.