FSUOGM - Former Soviet Union Oil & Gas

7 March 2023

Gazprom unveils $3bn East Siberian LNG project

6 March 2023

Gazprom plans to develop a $3bn mid-sized LNG export terminal in Eastern Siberia, as Russia scrambles to expand its liquefaction capacity following the loss of most of its European gas market share.

PKN Orlen to seek compensation from Russia for lost oil supply

6 March 2023

Poland’s largest oil refiner PKN Orlen plans to seek compensation from Russia for cutting off its oil supply via the Druzhba pipeline in mid-February, its CEO Daniel Obajtek said on March 6.

Uzbekistan making final adjustments to accommodate Russian gas imports

6 March 2023

Deliveries had reportedly been expected to start March 1, but that deadline has come and gone.

Wood Mackenzie weighs up Russia-Ukraine war's impact on energy

5 March 2023

The Russia-Ukraine war means energy security will no longer be taken for granted, has shown that Europe can handle a future without Russian gas and demonstrated the resilience of oil and coal and the limitations of the power markets.

Global energy sector emissions reach new high in 2022

5 March 2023

Global energy-related CO2 emissions reached a new record in 2022 of 36.8bn tonnes, inching up 0.9% from the previous year’s level, the International Energy Agency reported last week.

EU trade deficit with Russia at third of pre-war level

5 March 2023

The EU’s trade deficit with Russia slumped in December to a third of its pre-war level, reflecting the sharp decline in imports of coal, gas and oil, the bloc’s statistics agency Eurostat reported on March 3.

Shell wraps up disposal of Salym oil venture in Russia

5 March 2023

Shell confirmed on March 3 it had completed the withdrawal from its main oil joint venture in Russia after securing regulatory approvals, with its stake received by its local partner Gazprom Neft.

Trump accuses Biden administration of blowing up Nord Stream pipelines

5 March 2023

Former US President Donald Trump has said the Biden administration or Ukraine could have been responsible for blowing up the Nord Stream 1 and 2 pipelines in late September, while dismissing that Russia could be to blame.

Russia reportedly intends to mothball damaged Nord Stream pipelines

5 March 2023

Gazprom has previously said it would be possible to repair the ruptured lines, but the pipelines are unlikely to be needed, as the Russian government sees little prospect of ties with the West improving in the foreseeable future.

Russia can create national oil price benchmark this year, energy ministry says

5 March 2023

Russian President Vladimir Putin has been seeking this national benchmark for over a decade, frustrated by the discount that Russia’s flagship Urals blend trades at versus Brent and other benchmarks.

Russia's oil product exports slumped by 20% in February, but seaborne export volumes remain robust

3 March 2023

Russia's oil product exports have slumped by 20% in February, marking the lowest level since May 2022, according to tanker tracking data reported S&P on March 2 in a note. Shipborne exports of crude, however, have held up well and remain robust.

BCS forecasts a gas price of $445/kcm for 2023 as demand drops and supplies increase

3 March 2023

European gas demand is likely to decrease by 10 bcm in January and February, owing to warmer weather than usual and conservation measures, BCS said in a note on March 2.