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Energy Blast, March 14, 2008

Former electricity monopoly United Energy System is to conclude more than $2 billion in share sales for three of its power producers today. Enel, which is building a strong presence in Russia’s energy sector, plans to invest more than €2bn ($3.1bn) in the country over the next five years, seeking to cement its position in Europe’s “largest market and largest opportunity”. Nuclear-plant operator Rosenergoatom is “tapping yesterday’s military brains to develop a new generation of atomic plants,” signaling Russia’s rise as a nuclear force.

This article explains how Russia took control of its energy industry, and includes a section on “the Yukos attack”.Russian oil firm SurgutNefteGas plans to boost investment into oil exploration by a third to about $503.4 million this year.WORLD ENERGYEuropean Union leaders have called on member states to take further steps towards the liberalization of Europe’s energy markets, urging them to “to build on recent progress on the third internal market package for gas and electricity”.