Issue 7: June-July 2011

A Snapshot Of Key Developments In The External Relations Of The Russian Gas Sector

This year, Gazprom is likely to report an income of about $60 billion from the export of 158 bcm of gas to Europe, according to expert estimates. This represents a 12 percent growth in income compared to the previous year and, according to Alexander Medvedev, Deputy Chairman of Gazprom’s Board of Executive Directors, the company’s profits will be close to the record-breaking levels of 2008, when its income from exports reached $65 bn. READ MORE

• August 21, 2011

Political director of Lithuanian Ministry of Foreign Affairs Eitvydas Bajarunas met with Climate and Energy Security Envoy of the Government of the United Kingdom, Rear Admiral Neil Morisetti.

• August 18, 2011

Billionaire Mukesh Ambani's Reliance Industries Ltd. was toppled as India's most valuable company for the first time in four years by Coal India Ltd. as demand for the fuel attracted investors. Coal India, the world's biggest producer.

• August 18, 2011

Russia pitched Wednesday a proposal to Iran's foreign minister which it hopes could bring a breakthrough in a confrontation over Tehran's nuclear program, despite doubts in the West that the plan can make much headway.

• August 18, 2011

Russian company Atomstroyexport, the contractor on Bulgaria's nuclear power project at Belene, is yet to say whether it has dropped its 58 million euro suit against electricity utility NEK, filed in July in the International Court of Arbitration in Paris.

• August 18, 2011

Due to Iceland’s unique geology, which includes a high concentration of volcanoes, five major geothermal power plants produce approximately 26.2 percent of the nation's energy, while geothermal heating provides for the heating and hot water requirements of approximately 87 percent of all buildings in Iceland.

• August 18, 2011

Hong Kong shares climbed early Wednesday as heavyweights HSBC Holdings PLC and Chinese lenders advanced despite weak overseas cues on more bargain-buying and as China Coal Energy Co. jumped after better-than-expected results.

• August 17, 2011

Mining heavyweight Coal India overtook energy giant Reliance Industries on Wednesday to become India's biggest firm by market value, reflecting strong coal demand to power an expanding economy.

• August 17, 2011