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Overview
Russia and the other former Soviet republics are often viewed as remote and obscure, but FSU OGM sheds light on the vital role these countries play in world energy markets. It explains the region's status as a key player in the EU's energy planning, while also focusing on the progress of efforts to expand deliveries to Asia.
Leading commentaries in recent years have covered the economic consequences of political unrest in Ukraine, efforts to open the Southern Gas Corridor between the Caspian Sea Basin and the EU, competition between Russia and Central Asia for access to the Chinese gas market and the continued rise in Russian liquids production.
Our journalists on the ground have a wealth of local experience and are proficient in Russian and other languages in Central Asia, allowing us to provide an unparalleled level of industry coverage.
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Italy leads Azerbaijani oil exports in January–July 2025
Italy leads Azerbaijani oil exports in January–July 2025
Kazakhstan oil output falls in July but stays above OPEC+ quota
Kazakhstan produced an average of 1.827mn barrels of oil per day (bpd) in July, a decrease of 36,000 barrels from June, The Astana Times reported on August 15, citing OPEC’s August report.
Azerbaijan’s oil and gas sector contracts in January–July 2025
Azerbaijan’s oil and gas sector contracts in January–July 2025
Environmental activist sues Kazakh energy ministry for disclosure of major oil agreements
Vadim Ni, co-founder of Save the Caspian Sea movement, has filed a lawsuit against Kazakhstan’s energy ministry demanding publication of production sharing agreements (PSAs) for the country’s largest oil projects, Kashagan, Tengiz & Karachaganak.
Iran's First Vice President arrives in Kyrgyzstan for Eurasian Economic Union summit
Iran's First Vice President arrives in Kyrgyzstan for Eurasian Economic Union summit as Islamic Republic expands regional economic partnerships through observer membership.
Russian petrochemical giant Sibur gets an A- global rating and AAA domestic rating from China’s largest rating agency
Russian petrochemical producer Sibur Holding has been assigned long-term credit ratings by the largest Chinese rating agency CSCI Pengyuan of A- on the international scale and AAA on the domestic scale, with a “stable” outlook,
COMMENT: What is Rosneft’s flagship Vostok Oil Project seeking to achieve?
Russia’s oil industry enjoyed a renaissance between 2008 and 2018 when about 30 new oil fields came online, significantly boosting production. The Vostok Oil fields hold some 45bn barrels of oil.
Saudi oil pricing manoeuvre may undermine secondary sanctions against Russia
Saudi Arabia's oil pricing increases for Asian buyers could boost Chinese purchases of discounted Russian crude, potentially undermining US secondary sanctions against Moscow's energy sector.
Uzbekistan’s Bukhara refinery cuts AI-92 fuel price, Fergana ramps up jet fuel production
Uzbekistan’s Bukhara Oil Refinery has cut the wholesale price of its AI-92 gasoline to UZS 9,400 ($0.75) per litre, lowering the starting price per tonne by 1.97% from UZS 12.881mn to UZS 12.628mn ($1,020 - $1,003),
Kazakhstan weighs Baku–Supsa pipeline option to diversify oil exports
Kazakhstan is exploring the possibility of transporting crude oil through the Baku–Supsa pipeline corridor running from Azerbaijan to the Georgian Black Sea coast as part of its strategy to expand export routes.
Russian fossil fuel revenues slip as CREA calls for tighter price cap enforcement
Russia’s fossil fuel export revenues fell 3% month-on-month in July to €585mn a day, as weaker crude oil and LNG sales offset a sharp rise in pipeline gas income, according to the July monthly update on Russia’s oil trade from CREA.
Naftogaz wins Austrian court approval to seize Russian assets worth over €120mn
Ukraine’s state-owned Naftogaz Group has secured permission from an Austrian court to enforce a $5bn arbitral award against Russia, in the latest step in its effort to recover compensation for the seizure of its assets in Crimea.
Finland charges crew of suspected Russian shadow fleet tanker for subsea cable damage
Finland has filed criminal charges against the captain and two officers of the Eagle S oil tanker, accused of damaging five undersea cables in the Gulf of Finland last December.
Turkey’s natural gas network to reach 250,000 km by 2026
Turkey’s natural gas sector is poised for significant expansion, with the total length of the distribution network expected to reach 250,000 kilometres (155,343 miles) by the end of 2026, business daily Ekonomim has reported.
Kazakhstan’s coal reserves projected to last up to 300 years, study finds
Kazakhstan’s proven coal reserves are estimated at 25-33bn tonnes and could last 200 to 300 years depending on production levels, The Times of Central Asia reported on August 11, citing an analytical study by the Caspian Commodity Exchange.
Russia attempts to restart Arctic LNG 2 terminal with another tanker loading
Another sanctioned tanker from Russia’s ghost fleet has loaded at the Sabetta facility but there remains no indication a buyer has been found.
Gazprom protests loss of Moldovagaz licences, threatens legal action
Gazprom has condemned the Moldovan authorities’ decision to revoke the gas supply licence of Moldovagaz and transfer its role to state-owned Energocom from September 1.
Syria returns to prominence with Azeri gas, Iraqi oil talks
Following years in the energy market wilderness, Syria is leveraging momentum built by its new regime to shore up energy supplies
Drone strike causes fire at Russia's Afipsky refinery
A fire at the gas and condensate co-processing unit of the Afipsky oil refinery in Russia’s Krasnodar region, triggered by falling debris from an unmanned aerial vehicle, has been extinguished.
EU gas storage exceeds 71% capacity
EU underground gas storage sites held around 77bn cubic metres of gas as of August 9, or 71.29% of capacity.
Russia's wholesale gasoline price hits new record on August 8
The wholesale price of AI-95 gasoline on the St Petersburg International Mercantile Exchange reached a record RUB80,206 per tonne on August 8, up 0.8% from the previous trading session and marking the eighth consecutive rise since July 29.
Gazprom loses Moldova's retail gas market
Gazprom has said the revoking of Moldovagaz’s supply licence is an infringement on its investment rights.
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