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Energy Blast – Nov 2, 2009

Prime Minister Vladimir Putin is alleging that Ukrainian President Viktor Yushchenko blocked a money transfer for Russian gas, and reportedly warned the Swedish prime minister that disruptions to European gas supplies could be on the cards again.  Despite some wrangling over the details last week, and insistence that it would not discontinue its nuclear program, Iran denies that it has fully rejected UN proposals to limit its nuclear activity, and is now calling for a new committee to be established to review the deal.  Russia’s oil and gas industry is booming, with Gazprom’s output rising by almost 21% in the last two months, but LUKoil and Transneft have still managed to post a profit decline.  Poland’s state gas firm PGNiG has agreed a deal on  increased gas deliveries with Gazprom that will run until 2037.  German utility company RWE has asserted that it is not in talks with Iran regarding the country’s participation in $11.71 billion Nabucco gas pipeline project. The Times reports on the advent of shale gas extraction – with new technology allowing the resource to be easily exploited.  Russian nuclear engineering firm Atomstroyexport has entered itself into a tender competition to construct as many as five nuclear reactors for Czech power group CEZ.