Thursday, September 30, 2010; AA04


Expansive energy supply pact

China and Russia signed agreements this week to boost energy cooperation, as Moscow said it wants to supply its energy hungry neighbor with all its natural gas needs.

No dollar value was given for the agreements, signed during a state visit by Russian President Dmitry Medvedev, but they included documents on cooperation regarding coal, natural gas, nuclear energy and renewable energy.

Russian Deputy Prime Minister Igor Sechin told reporters in Beijing that Russia is in talks with Chinese partners on plans to launch natural gas supplies to China starting in 2015, according to state news agency ITAR-Tass.

"Russia is ready to meet China's full demand in gas," Sechin was quoted as saying in the report.

-- Associated Press


State oil company stock sets record

President Luiz Inacio Lula da Silva hailed a "new chapter in Brazil's development" after state oil company Petrobras sold $70 billion in shares at a higher-than-expected price, a record deal that could make the country one of the top global energy exporters.

Clad in a bright-orange Petrobras jumpsuit and hard hat, Lula played down concerns about the state's expanding role in the company and told a gathering of business leaders last week at the Sao Paulo stock exchange that the resulting windfall should help propel Brazil closer to its goal of developed-world status.

The cash generated by the world's biggest-ever stock offering is part of Petrobras' $224 billion investment plan during the next five years to exploit the so-called subsalt area, a reserve discovered off Brazil's southern coast in 2007.

It contains up to 50 billion barrels of difficult-to-extract but high-quality crude under a thick layer of salt four miles beneath the ocean's surface.

-- Reuters


World's biggest offshore wind farm

The world's largest offshore wind farm opened off the southeast coast of England last week as part of the British government's push to boost renewable energy.

Swedish energy company Vattenfall, which constructed the wind farm, said the 100 turbines off the coast of Thanet could, at their peak, produce enough electricity a year to power the equivalent of more than 200,000 homes.

The huge site on the North Sea, built seven miles off the coast, will boost the renewable energy now generated by the onshore and offshore wind turbines across the United Kingdom.

With the opening of the Thanet wind farm, Britain has the capacity to produce 5 gigawatts of wind-powered energy -- roughly the amount needed to power all the homes in Scotland, Energy Secretary Chris Huhne said.

-- Associated Press


20% renewable energy by 2020

Germany is expecting to get 20 percent of its total energy consumption from renewable sources by 2020 -- which would double its current share within 10 years.

Environment Minister Norbert Roettgen said recently that the use of clean technologies such as wind, solar and biomass will probably grow faster than expected and surpass the official 18 percent goal set for 2020.

-- Bloomberg


Nuclear company seeks 12 reactors

State-owned Nuclear Power Corp. of India is in negotiations with GE Hitachi Nuclear Energy for six atomic reactors and will begin talks with Toshiba Corp.'s Westinghouse Electric Co. unit for another six reactors, the Business Standard reported this week, citing an interview with Nuclear Power Corp.'s chairman, Shreyans Kumar Jain.

-- Bloomberg

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