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Energy Blast, March 10, 2008

Gazprom has held talks with the International Olympic Committee (IOC) with a view to becoming one of 12 potential “global” sponsors of the 2012 London Olympics. “I will say once again that we are firm in our intention to continue joint construction of the Nord Stream gas pipeline in line with the plans and the schedule,” Vladimir Putin told journalists after a meeting with German Chancellor Angela Merkel. Some believe that Russia’s gas row with Ukraine signals “the first failure of Gazprom’s foreign policy,” but either way most of the incendiary issues remain unresolved, according to analysts.

WORLD ENERGYIndia, which imports more than 70% of its oil and gas, is trying to launch one of the world’s biggest biofuel projects in order to bolster energy security.Hungarian oil company MOL is to sell an 8% stake to the Oman Oil Company for $145.4 per share, in a further move to fend off a takeover approach from Austria’s OMV.Alistair Darling, the UK chancellor, will unveil plans this week to use legal powers to stop energy companies from making an alleged $805m in excess profits from some of Britain’s poorest consumers.