Energy Blast – Sept 8, 2010

China has agreed that it will increase its consumption of Russian coal by two-thirds, and supply Russia with a $6 billion loan to ensure that it can uphold the supply side of the bargain.  The CIS Economic Court wants Russia and Belarus to find their own solution to a dispute about customs duties on oil purchased from Russia which, Belarus alleges, violate existing treaties on free trade.  Germany’s government ministers have agreed on the extension of the life of the country’s nuclear plants in a ‘classic compromise‘, under which older plants will receive 8-year extensions, and newer ones will get 14-year extensions – a deal which involves major energy companies agreeing to billions of Euros worth of taxes.  Ukraine has paid its August Russian gas bill.