Energy Blast – Nov 15, 2010

Vladimir Putin’s trip to Sofia saw him reach an agreement with Bulgarian counterpart Boyko Borissov on forming a 50-50 joint venture that will oversee the construction and running of the stretch of the South Stream pipeline running though Bulgaria.  Gazprom has apparently struck gold (of the hydrocarbon variety) in Algeria.  The company is looking to reduce its stake in Russia’s second largest gas producer, Novatek.  Belarussian President Alexander Lukashenko has told German press that Belarus plans to reduce its oil supplies from Russia next year by up to 50%, instead seeking its imports from world markets.  Oleg Deripaska’s power utility, EuroSibEnergo, is reportedly hoping to raise $1.5 billion in an initial public offering in December in Hong Kong.  Rosatom is branching out; looking for foreign partners to help develop its interest in wind power.  The Washington Post analyzes the difficulty of negotiating with Iran on its nuclear capacities.  Australia’s Prime Minister Julia Gillard has confirmed that plans to export uranium to Russia were ratified at the G20 summit.