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Energy Blast – September 24, 2009

Gazprom is apparently making plans to construct and run power plants in Turkey in partnership with the country’s own Aksa.  Kazakhstan will postpone a feasibility study for a gas pipeline along the Caspian coast to Russia until 2010 while the line’s capacity is figured out.  Ukraine has reassured investors that Naftogaz will not default on the payments of its $1.6 billion loan.  Gazprom has completed the acquisition of a 51% stake in SeverEnergia from Italy’s Eni and Enel.  Debt-addled EDF is close to agreeing a major asset swap with E.ON, although it may also consider selling a 20% stake in nuclear operator British Energy.  Oil output in Russia may reach 530-535 million tons by 2030, a figure which is apparently not a projection, but a target.  Oil and Gas Eurasia reports that South Ossetia’s new gas pipeline cost $476 million to build; the state’s government and Gazprom will jointly run the 70.2 km-leg of the pipeline.  The Governor of Arkhangelsk has recommended Russia prioritize the development of the Northern Sea Route before climate change makes other options available.  The New York Times reports on the excitement rushing through the oil industry with a spate of new discoveries this year.