This in from the Wall Street Journal on the somewhat disturbing, political dimensions of Russia's Nord Stream pipeline.  Approved just last week by Finland and Sweden after ecological concerns were overcome, the project is now ready to get off the ground, or rather under the ground.  For the pipeline will traverse the Baltic Sea floor to Germany, rather than crossing overground through former Eastern bloc countries; a divisive move, Alexandro Peterson suggests:[ . . . ] The Nord Stream project is part of an exclusionary agreement between Moscow and Berlin--nicknamed in circumvented Warsaw the "Molotov-Ribbentrop Pact," after the 1939 Soviet-Nazi deal to carve up Poland. It would have been much cheaper to build an overland pipeline ...

The US is apparently willing to give Iran more time to decide whether it will accept the UN's recent proposal on uranium enrichment abroad.  Bad news for Gazprom - the company's profits fell by 48% in the first six months of the year and its debt grew by 31% in the same period.  The company expects to meet its target of exporting 142-143 billion cubic meters of gas in 2009 as demand continues to recover.  The Russian monopoly could fine European consumers for falling short of contracted purchase volumes by 8-9 billion cubic meters of gas and Ukraine may be among them.  Lukoil has received a $300 million loan from the European Bank for Reconstruction and Development.   Mikhael Gorbachev urges that the new 'wall' of climate change be addressed.  China will offer $10 billion ...

Russia has reached a new record high in monthly oil production, at more than ten million barrels a day in October, maintaining its position as the world's biggest oil producer.  Rosneft is at the forefront of the increase with production from its new Vankor field in the Arctic.  Vladimir Putin has nodded approval for a Danish initiative on CO2 emissions that could replace the Kyoto Protocol, but with two caveats - that Russian interests be taken note of, ie the country's immense CO2-absorbing forests, and that the resolution be ratified by all the world's biggest economies.  Russia may increase threefold its supplies of gas to Denmark, which could see supplies reach a total of 3 billion cubic meters a year via the Nord Stream pipeline.  The Prime Minister has urged the 'stingy' EU to assist Ukraine in its difficulties ...

TNK-BP is on the lookout for oil and gas production projects in Iraq as the country builds up to its second round of international bidding.  A piece in the New York Times examines how the Nord Stream pipeline could reinforce Russia's dominance over its neighbors and re-establish a divide between eastern and western Europe.  EDF has denied claims that it is dispatching radioactive waste to Russia, but rather is sending 'spent nuclear fuel that needs to be reprocessed'.  A gas deal with China would be good news for Gazprom shares, says Bloomberg.  Beijing may look to invest in oil in the Western African states of Ghana and Guinea to help build up its economy and increase energy security.  The Moscow Times reports that the government intends to begin operating a long-term power capacity market in 2011.  ...

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 -

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Lithuania is the latest state to raise concerns about the environmental damage that may stem from the Nord Stream pipeline.  Gazprom is hoping that once its two Arctic LNG projects begin, it will supply as much as 10% of the US gas market by 2020.  A Moscow Times contributor comments on the St Petersburg Economic Forum: 'I realized that the main point of the conference boiled down to one session only - the one titled: What is the Price of Oil?'  An article in the Times compares the recent problems of BP and Shell with the good fortunes of ExxonMobil; will the two companies consider a merger to prevent a possible takeover?  The BBC has a full report on gas in Europe, citing an interview with Gazprom executive Alexander Medvedev: 'if Europe doesn't need our gas, then ...

According to President Medvedev, the current value of Urals at $60-70 a barrel is 'a fairly just price'.  Finnish Prime Minister Matti Vanhanen has said the government will need more time to decide upon whether or not to approve the construction of the Nord Stream pipeline.  Putin has reportedly said that the nations participating in the pipeline project are willing to change the route to take into account Finland's environmental concerns.  At a press conference the Prime Minister reiterated pleas that Europe help Ukraine with its gas payments, or otherwise transit from Russia might cease.  'Gazprom will only supply the gas which has been prepaid. Without the gas pumped into storage, Ukraine will simply not survive and will be forced to take gas destined for transit', Putin also warned journalists.  In the fourth contract with US ...

The vice-president of the State Oil Co. of Azerbaijan has said that European energy firms must forget their rivalries if they wish to prevent Gazprom from buying up excess natural gas from the western Caspian area.  President Obama hopes to 'work closely with Azerbaijan' and has pledged to boost cooperation in the Caspian region, as Washington seeks a 'southern energy corridor' to Europe that bypasses Russia.  Gas supplies from Poland to Russia have been reestablished after a deal was made between Poland's PGNiG and Gazprom's trading unit.  The CEO of Gazprom has stated that even if Ukraine fails to pay its bills the company will continue to supply gas.  TNK-BP has apparently started commercial development of the northern block of the Kamennoye oil field, which should significantly increase Russia's oil production.  Putin is expected to push ...

The New York Times features a special report on how the energy sector may emerge from the global recession.  GDF Suez is likely to finish talks on joining the Nord Stream pipeline by the end of the summer.  Regarding Nord Stream, ex-German chancellor Gerhard Schroeder has advised EU member states who value having stable energy to be less critical of the project.   Russia will propose that the EU include the South Stream pipeline in its list of priority projects.  Gazprom has said that the EU may risk a gas shortage if it does not benefit from Russian pipelines: 'Russophobe politicians are a real threat to Europe's energy security'.  President Medvedev has encouraged Norwegian President Jens Soltenberg to agree on a united front on Arctic development.  Norway says on Russia: 'we have a shared interest in developing and ...

Russia and Bulgaria have apparently surmounted tensions over two days of negotiations; Russia will not use Bulgaria's existing pipeline to transit gas to Europe as part of South Stream, but will contemplate other options. The two countries are set to sign a final agreement in two weeks time. President Medvedev has held a meeting promoting international energy cooperation, focusing on the establishment of a legal framework for trading. In April Ukraine imported one third of the volume of gas that had been outlined in a supply contract with Moscow.  The country plans to offer to resurrect a $350 million joint pipeline project with Russia.  French power company GDF has denied it was in talks to buy a minority stake in the Nord Stream pipeline.  Gazprom's electricity asset Mosenegro will make $30 million less this year

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