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Energy Blast – April 13, 2009

Robert Amsterdam (April 13th, 2009) Writes:
The International Energy Agency forecasts that global demand for oil will decrease by 2.4 million barrels a day this year.  A contract allowing Russian oil giants such as Lukoil to revive pre-war contracts in Iraq has been agreed.  Despite Sergei Lavrov's insistence that the pipeline problem was technical, not diplomatic, the dispute between Turkmenistan and Gazprom continues, with Turkmenistan claiming that 'a unilateral and egregious violation' of agreements by Gazprom Export caused the blast.  Turkmenistan's call of an international tender to build a pipeline may have also damaged relations with Gazprom.  Failure to import the agreed amount of gas may result in Gazprom seeking $530 million in fines from Ukraine.  French power company GDF Suez is negotiating with Gazprom to acquire a stake in the Nord Stream pipeline.  Gail India Ltd. intends to construct a ...

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