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Gazprom: Doesnt Need Gas From TNK-BPs Kovykta Field

Gazprom: Doesn't Need Gas From TNK-BP's Kovykta Field

Russian gas firm OAO Gazprom (GAZP.RS) said Monday it has no near-term plans to develop a huge Siberian gas field, which BP PLC's (BP) Russian joint venture aims to sell to a state company this year.

Areva: Olkiluoto 3 Nuclear Operation To Start End 2012

Areva: Olkiluoto 3 Nuclear Operation To Start End 2012

French state-controlled nuclear group Areva (CEI.FR) Monday said that the delayed third-generation nuclear plant Olkiluoto 3 it is building inFinlandas part of a consortium withGermany's Siemens AG (SI) will start operations at the end of 2012.

Russia, Greece Ink South Stream Deal

Russia, Greece Ink South Stream Deal

Russia Monday took another step toward realizing a pipeline that would bring Russian natural gas to southern Europe when it signed a deal with Greece to build the South Stream gas pipeline.

The Cost of Fossil Fuel Subsidies: $557bn

The Cost of Fossil Fuel Subsidies: $557bn

The popularity of fossil fuel subsidies didn’t take much of a hit despite a big run-up in prices in 2008. Thirty-seven of the world’s biggest developing countries are spent $557bn subsidising fossil fuels that year, according to new estimates by the IEA seen by the FT.

Obama and Democrats Walk Tightrope on Oil Spill

Obama and Democrats Walk Tightrope on Oil Spill

The BP oil spill crisis has put U.S. President Barack Obama on the defensive, upsetting his agenda and threatening to derail his fellow Democrats as they position themselves for November's congressional elections.

Gazprom Sees No Prospects for Kovykta Gas Field Development

Gazprom Sees No Prospects for Kovykta Gas Field Development

Russia’s gas giant Gazprom sees no prospects for the development of the Kovykta gas field, as it expects no high demand for this gas both on the domestic and foreign markets, the head of the company’s Eastern Projects Coordination Department, Viktor Timoshelov, told a news conference on Monday.

Russia Domestic Gas Prices To Reach Export Level By 2014

Russia Domestic Gas Prices To Reach Export Level By 2014

Russian state gas firm OAO Gazprom (GAZP.RS) has agreed with the government to let domestic natural gas prices reach the level of export prices by 2014, the Interfax news agency reports Thursday citing Russia's Energy Minister Sergey Shmatko.

Kazakh Oil Company Signs MOUs To Assess Caspian Blocks

Kazakh Oil Company Signs MOUs To Assess Caspian Blocks

Kazakh state oil and gas company KazMunaiGas, or KMG, Thursday signed memorandums of understanding with France's Total SA (TOT) and Norway's Statoil ASA (STO) to jointly assess the exploration potential of hydrocarbons at two blocks in the Caspian Sea.

Azerbaijan May Launch Shah Deniz Stage 2 In 2014

Azerbaijan May Launch Shah Deniz Stage 2 In 2014

Azerbaijan may launch the second stage of the BP PLC (BP)-led Shah Deniz field in the Caspian Sea in 2014, two years earlier than planned, Khoshbakht Yusifzade, vice president of Azeri state oil company Socar, said Thursday.

Eni, Azerbaijan In Talks To Ship Natural Gas To Europe

Eni, Azerbaijan In Talks To Ship Natural Gas To Europe

Italian energy firm Eni SpA (E) has asked Azerbaijan's state energy company Socar to participate in a project to ship natural gas from Turkmenistan to Europe, the Azeri company said Thursday.