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Energy Watch, November 25

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Below is a summary of the main energy-related events in Russia, the CIS and neighboring countries on November 25, 2005

* The State Duma, the lower chamber of the Russian parliament, approved in the first reading amendments to a bill that will allow the "ring fence" to be lifted around shares in energy giant Gazprom

* Shareholders of Gazprom-owned oil major Sibneft proposed 11 candidates for the new board of directors to be elected December 23

* Russia is intending to diversify its exports of oil and natural gas, and considerably increase its supplies to the Asia-Pacific region in the coming 15 years

* Russian Minister of Industry and Energy Viktor Khristenko said Gazprom was ready to share construction risks in the transnational project to build a gas pipeline from Iran to India via Pakistan

* Lithuania may resume talks on the sale of Yukos-owned share package of the country's oil refinery Mazeikiu nafta after a district court in Amsterdam lifted the injunction on the sale of Yukos' subsidiary Yukos International U.K. B.V.

* The Russian Federal Service of State Statistics said gasoline prices increased 0.5% in October and 15.6% during the first ten months of 2005

* Russian energy giant Gazprom said its net debt had decreased in 1H05 by 7% to $16.2 billion; its net profits in 1H05 had been $5.4 billion against $3.2 billion in 1H04; and its net proceeds from natural gas sales had increased by 31%, or $4.1 billion, to $17.3 billion

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