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Energy Blast – September 2, 2009

Russia may raise electricity prices more than the 5% planned following the Sayano-Shushenskaya power station disaster, says Reuters.  Ukrainian Prime Minister Yulia Tymoshenko has stated that the country’s gas problems with Russia have been almost entirely resolved.  According to the Moscow Times, Putin will accept Ukraine only purchasing as much gas as the country can afford.  Gazprom has confirmed that talks are underway with Japan regarding a gas link to the Far East.  To get up to speed on nuclear projects in central, eastern and southeastern Europe, look here.  The crisis has affected a number of projects in that region.  Vladimir Putin has apparently told Bulgarian counterpart Boyko Borissov that Bulgaria needs to make a decision on the Burgas-Alexandroupolis pipeline.  Rosneft reported profits of $1.61 billion for the second-quarter of 2009, falling beneath the figure predicted by Reuters’ poll of analysts.  Things are looking up for Mol, as it expects output to almost double next year.  Oil theft in the restive Caucasus is a major worry for Transneft.  Russia will imminently inform Finland about the results of an environmental examination of the Russian part of the ecologically-disputed Nord Stream project.