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Energy Blast – Oct 14, 2010

Despite strained relations between the two, Russia may be willing to increase the volume of tax-free oil it supplies to Belarus, but the Kremlin first wants ‘conclusive proof‘ that Belarus’ domestic needs have increased.  Ukraine’s Prime Minister Mykola Azarov may seek to revise his country’s natural gas contract with Russia on grounds that the current agreement is ‘unfair: ‘Definitely Russia doesn’t want to revise it […] perhaps it’s profitable for them,‘ he said.  Reuters reports that Ukraine’s State Prosecutor is trying to cancel last January’s gas deal that saw Naftogaz pay $1.7 billion to Gazprom – the dispute apparently relating to the involvement of an intermediary.  Could the Sakhalin-1 budget double to $100 billion?  TNK-BP says it will spend over $20 million over the next four years on reducing its pollution levels.  Could a deal between Belgium’s Enex and Turkmenistan’s Ashgabat pose problems for Nabucco? Its CEO explains why, and defends Turkmenistan as a business opportunity.