First Solar Inc. (FSLR) announced that it would sell the 21 MW solar energy project that it has developed and constructed in Blythe, California, to NRG Energy Inc. (NRG). First Solar will provide operations and maintenance services at Blythe under a long-term contract with NRG Energy. This is second sale by First Solar, recently in October 2009 the company sold a 20 MW solar power project in Ontario to the Canadian oil pipeline company – Enbridge Inc. (ENB). Located in Riverside County about 200 miles east of Los Angeles, the Blythe project is California's first and largest utility-scale photovoltaic (PV) solar generation facility, and among the largest in North America. Construction on the project began in September 2009 and is expected to be fully completed by year-end fiscal 2009. Once fully completed, the Blythe project when will generate over 45,000 megawatt-hours of electricity annually. The solar ...

Calgary-based Enbridge Inc. (ENB) recently announced that it reached an agreement with subsidiaries of U.S. oil major Chevron Corp. (CVX), Norway’s StatoilHydro ASA (STO) and Japan’s Marubeni Corp. to construct and operate a 40-mile, 20-inch oil pipeline from the proposed Big Foot ultra deepwater development in the Gulf of Mexico.   The planned conduit is estimated to cost approximately $250 million and will transport about 100,000 barrels of oil per day to a subsea connection on existing deepwater pipeline infrastructure. It will be located approximately 170 miles south of the Louisiana coast and reach depths of up to 5,900 feet below water.   The proposed Big Foot pipeline will complement Enbridge’s previously announced plans to build the Walker Ridge offshore natural gas pipeline in the area for $500 million. Thus the company has committed a total of $750 million in pipelines to service oil and gas exploration

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The new CEO of TNK-BP will apparently be chosen by the end of the year, energy mogul Viktor Vekselberg has announced.  The Telegraph examines Total chief Christophe de Margerie's belief that oil prices may rocket back up to the $100 mark if further investment into oil exploration is not followed through.  According to Bloomberg, state-run monopoly Saudi Aramco says that it imagines little chance of pumping crude from idle fields in 2010 because demand for oil remains low.  Ukraine will offer 'absolute and unconditional guarantees' to restructure the debt of Naftogaz Ukrainy.  Greece is cooperating with Russia in the construction of the Burgas-Alexandroupolis oil pipeline and South Stream gas line, but with a predominant concern for its own interests, says Greek Prime Minister Costas Karamanlis, according to ITAR-TASS.   37 tenders for the Shtokman gas field ...

Reuters reports that next week Vladimir Putin will hold a meeting with global oil giants on how to exploit gas reserves on the Arctic Yamal peninsula.  Natural Resources Minister Yuri Trutnev has told Reuters that Russia will consider easing laws regulating foreign participation in offshore energy projects, which had been restricted during the 2002-July 2008 boom in oil prices.  Rosneft has apparently said that it will not be able to maintain the high level of oil exports that has seen Russia overtake Saudi Arabia as the world's biggest oil producer, as the domestic market will become more alluring to oil producers.  The President of OPEC has reportedly argued that the cartel must improve cooperation with Russia in order to keep prices stable.  Bulgaria has agreed to continue preparations for the Russian-backed Belene nuclear plant, South Stream and ...

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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Why would Turkey sign on to a massively expensive and redundant underwater pipeline that would eliminate the transit business at the lucrative but over-trafficked Bosporus Straits?  Because when it comes to Gazprom and Eni's South Stream, it is very different to say you support it than it is to actually build it.  Nabucco is likely to work, and looks like it will find the gas to fill capacity - but not before Ankara does everything possible to milk both sides for the maximum concessions.These editors at Zaman don't quite get the issue right, but there is enough perspective here to get an idea of the Turkish mentality on Russian energy politics (resentful of the perceived mistreatment ...

Given all the news this week of Russia and Italy's South Stream deal with Turkey in exchange for a nuclear power plant, I thought I would repost an article written by Robert Amsterdam last fall in Energy Risk on Turkey's political pipelines.

FROM OCT. 2008, ENERGY RISK:

Turkey's political pipelines

Turkey's strategic position at the crossroads of East and West has put it at the centre of a geopolitical tug of war, with energy supply a key driver. Robert Amsterdam examines the energy policies being brought to bear in the region

Turkey's role in global affairs is defined by its geostrategic importance as the bridge between Europe and the Near East. Following Russia's invasion and occupation of Georgia in August, which caused considerable energy supply jitters, Turkey was once again thrust into the spotlight as the European

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As Ed Crooks points out in the FT on the new Russia-Turkey deal on the South Stream pipeline, in the geopolitics of energy, there are no friends, only partners.  Here's what the Russians paid the Turks to sign on to a pipeline that cuts them and Ukraine out of the loop:

To buy Ankara's support, Russia is expected to help with a long list of important projects for Turkey, including an oil pipeline from Samsun in the north of the country to Ceyhan in the south, and one or more nuclear power stations, fulfilling a long-cherished Turkish dream.

It looks as though Mr Erdogan has managed to exact a good price for his support: a sign of how important these pipeline routes are. (...)

In one of the ironies of history, it is Turkey that is now at the heart of those hopes for bringing gas

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On Friday, Texas-based pipeline operator Enbridge Energy Partners LP (EEP) reported second-quarter financial results for the period ending June 30, 2009. Earnings per limited partner unit, excluding non-cash items, came in at $0.74, well above our estimate of $0.52 and the Street’s estimate of $0.51. The partnership’s better-than-expected profit was driven by contribution from a new oil pipeline, cost saving initiatives and better results in the natural gas segment.

However, on a year-over-year basis, Enbridge’s adjusted earnings per limited partner unit declined 21.3%, while revenue plunged 55.3% to $1.3 billion. The negative comparison from the year-ago quarter was due to less favorable natural gas and natural gas liquids prices.

Earnings per unit during the quarter were also adversely affected by increase in the number of weighted average units. The partnership declared an unchanged cash distribution of $0.99 per unit or $3.96 per unit annualized.

Volume in Enbridge’s

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From Yulia Latynina's column in the Moscow Times:On June 17, President Dmitry Medvedev and Chinese President Hu Jintao signed an agreement in which Russia will sell 300 million tons of oil to China over 20 years for $100 billion. That breaks down to $57 per barrel.In order for Russia to deliver that oil, a new pipeline must be built to China. This is something that Yukos had originally planned to build by the mid-2000s at a cost of $4 billion. By March 2008, however, the price for the project had risen to $29 billion. At that cost, oil deliveries through the pipeline would only recoup expenses given oil prices of at least $80 per barrel. But Russia has agreed to a price of just $57 per barrel for its exports to China. (...) It is ...