Energy Blast – Oct 15, 2010

Delays on Turkish, Italian and Bulgarian operations for the South Stream pipeline are threatening the pipeline and sparking ‘serious doubts that Gazprom can deliver its first gas through South Stream in 2015 as planned.‘  Gazprom is criticizing new initiatives from the European Union to reform the gas industry, saying that the measures, aimed at getting Gazprom to sell its transmission assets, turns Gazprom into a ‘financial donor‘, and warning that reforms could put an end to supply stability.  Energy Minister Sergei Shmatko says that Russia will continue to supply Poland with gas, even if a new contract is not set in place by the time the previous one expires.  Venezuela’s state-owned PDVSA oil company will sell a German refinery to a Russian company, although no names were given by President Hugo Chávez, who announced the sale on his arrival in Russia.  LUKoil may sell the oil it produced in Uzbekistan on to China.  Prime Minister Vladimir Putin has given Rosneft four new off-shore licenses.  The FT reports on Essar’s plans to invest over $2 billion in Nigerian power plants to help deal with energy shortages.  Italy’s Enel has set the price range for its Green Power IPO later this year, which is looking to be 2010’s largest European offering.