A few days ago the Russian mainstream media were talking about all the agreements reached with Turkey during the most recent visit of the Prime Minister, hailing the accords as the latest Putinite achievement. Supposedly positive but vague results were achieved with respect to negotiations on the construction of the South Stream and Blue Stream gas pipelines; on the Samsun-Ceyhan oil pipeline, as well as the construction of nuclear power stations. In covering the Turkey visit, they showed the joy of Turkish and Italian prime ministers in signing these deals, and the unintelligible babble of the Russian one, who was able to clearly express a thought about how the Turks - are "difficult negotiators."

But so many gas pipelines -

...

Vladimir Putin has rejected the 15-year old international Energy Charter Treaty.  According to the Prime Minister, Turkey and Russia 'agreed on everything' regarding South Stream at their energy deal meeting and added, 'it is obvious there is demand' for the pipeline.  Italian President Berlusconi was also present at the talks.  In return for South Stream, Russia has agreed to be involved in building a pipeline across the Anatolian Peninsula and reasserted a commitment to expand an existing Black Sea gas pipeline.  Is it a high price to pay? wonders the FT, a 'confirmation that when vital interests are at stake, there are no friends, only partners'.  Tim Summers, the most senior former BP manager at oil firm TNK-BP has decided to step down, to be replaced by the head of BP Azerbaijan, Bill Schrader.  Lukoil has reportedly ...

Oil has risen to over $70 a barrel for the first time in a month.  Bulgaria's new government will continue to support the South Stream gas pipeline, but is as of yet undecided on whether to abandon its nuclear power plant, which was set to be constructed by Atomstroiexport.  Oil and Gas Eurasia reports that the country's Economy and Energy Minister, Traicho Traikov, has pledged Bulgaria's determination to continue to work both on Nabucco as well as the Russia-backed pipeline.  Russia increased its gas exports by 20% in July compared with June as prices fell.  The New York Times looks at the questions surrounding Ukraine's recently brokered loan from international lenders as doubts surface about whether the money will suffice to ward off a winter gas crisis.  The $1.7 billion loan is considerably smaller than the $4 ...

Lukoil is apparently contemplating a joint refinery investment with ConocoPhillips on the East Coast of the US.  ConocoPhillips says it has no plans to build a new US refinery.  Russian gas exports to countries other than ex-Soviet bloc fell 50% year on year in January to May.  As the Ukraine-Russia gas problem rumbles on, the EU has been attempting to put together a loan for Kiev as it hits another payment deadline for its gas debt to Russia.  Ukraine's state firm Naftogaz could secure up to $4 billion in financing with the help of Russian investment bank Troika.  The world's biggest buyer of liquefied natural gas, Korea Gas Corp., and Mitsubishi Corp. have agreed to jointly consider the possibility of developing gas reserves in Venezuela and purchasing stakes in liquefied natural gas plants in Australia and ...

Gazprom head Alexei Miller has said that situation in Ukraine must be dealt with through 'systemic efforts and policies'.  He has also asserted that January's gas cut-off was an 'anomaly' and a situation to be avoided.  The CEO added that Europe's plans to diversify energy supplies away from Russia will not necessarily ensure greater energy security.  Gazprom has said it plans to use the South Stream pipeline to transport 35% of its gas exports to Europe by 2015, threatening the role of Ukraine, who now handles most gas transit.  Despite Sakhalin-2 holding bad memories for Shell, the company has welcomed Vladimir Putin's hopes for its participation in the Sakhalin-3 and Sakhalin-4 projects. Russia's precarious financial situation is seen by the Telegraph as the motivation for the surprise invitation.  Putin has pledged to maintain Belarus' ...

The Energy Ministry is investigating ways of reducing taxes on undeveloped gas fields, having seen that even with high oil prices most projects would not be financially solvent.  Ukraine's energy company Naftogaz has said that to avoid the possibility of a gas suspension, European firms should consider buying Russian gas and storing it in Ukraine.  Russian gas exports to Europe via Ukraine fell 45.5% in January-May 2009, year-on-year.   The European Commission has cautioned Gazprom and Naftogaz to secure a long-term contract to maintain steady supplies of gas to Europe.  Sergei Lavrov has met with EU ambassadors and 'positively assessed Russian-EU cooperation' over this issue.  The FT reports that a lack of investment in modernizing the energy infrastructure of central and eastern Europe is an obstacle to guaranteeing upplies.  If oil rises to $90 a barrel next year ...

One minute Russia is talking about the potential for cooperation in mutual interests to help Washington discourage nuclear proliferation in Iran, while the next minute they are selling missile systems and assisting with nuclear technology.  From the energy perspective, this blog has long argued that the most important strategy for Moscow is the maintainence of tensions between the United States and Iran in order to prevent the awakening of a sleeping gas giant.  Further complicating the plot, today the Financial Times is reporting on Gazprom getting involved with Iran to help build a pipeline to Gazprom.  Moral of the story:  if Iran is going to increase its gas exports, then they had better go through Russian built pipes and away from their sphere of energy influence.  From the FT:

"Both we and Pakistan are talking

...

EU Energy Commissioner Andris Piebalga has warned against overdramatizing the Russia-Ukraine gas transit issue, following Deputy Prime Minister Igor Sechin's comments about the risks that remain about guaranteeing gas exports.  Production at Gazprom plummeted to its lowest level in ten years in April this year, whilst oil extraction continues to mount.  The Guardian examines Russia's intention to build nuclear power stations in the Arctic to capitalize upon the region's considerable mineral deposits.  Reuters has a factbox on North Korea's Yongbyon nuclear arms plant.   Expansion at the world's biggest known uranium depositor, BHP Billiton Ltd's Olympic Dam mine in Australia, will be sustained by exports to countries like China, Russia and India.  Kazakhstan should apparently refrain from spending more of its oil revenue to bolster its economy as income flowing into the country's oil fund ...

‘Russia is seizing on record oil and natural gas prices to market its nuclear reactors abroad and plans to gain as much as 20% of the global market.’ The Energy Ministry expects Russian gas exports to Europe to rise by almost 38% by 2015, although is less optimistic for China. Kazakhstan’s oil industry is still seeing strong foreign interest despite borrowing issues.