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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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Allied Biofuels targets 2027 FID for $6.1bn Uzbekistan SAF project
Allied Biofuels has confirmed plans to reach a final investment decision (FID) in 1Q27 on its $6.1bn sustainable aviation fuel (SAF) and e-SAF project in Uzbekistan, following a front-end engineering design (FEED) meeting in China.
European gas prices fall on hopes of Hormuz reopening, but storage concerns persist
European gas prices fell to just above €69 per MWh on September 22, retreating sharply from recent highs as prospects of a reopening of the Strait of Hormuz eased fears over global LNG supply.
Italy takes 58% of Azerbaijan's oil exports in Jan-Aug
Azerbaijan exported 8,470,707 tonnes of crude oil to Italy in January-August, worth $5.226bn.
Russia's Novatek launches country's northernmost GHG monitoring station
Russia’s second-biggest gas producer Novatek (MOEX:NVTK) has launched the country’s northernmost greenhouse gas monitoring station as part of the country’s national network of carbon supersites.
Moscow oil refinery suffers another drone strike
Russia’s Moscow oil refinery has suspended crude processing after a large-scale drone attack damaged key production units on September 20, marking the latest disruption at a facility that has been repeatedly targeted this year.
Naftogaz signs LNG and fuel agreements with ORLEN, plans storage in Hungary
Ukraine's Naftogaz has signed agreements with Poland's ORLEN covering potential liquefied natural gas (LNG) deliveries and up to $500mn of petroleum product supplies, while agreeing with Hungary's MOL to develop storage facilities near its border.
Russia's Sibur starts up core equipment at polypropylene complex at ZapSibNeftekhim
Russian petrochemicals producer Sibur has begun commissioning the main equipment at its new DGP-2 polypropylene complex at ZapSibNeftekhim in Tobolsk, with the 570,000 tonne-per-year plant on track for startup in 2027.
Kazakhstan ramps up oil exports via Russia's Novorossiysk port in August at cost to volumes via Ust-Luga
Kazakhstan increased oil shipments through Russia towards Novorossiysk by almost 28% in August while cutting flows towards the Baltic port of Ust-Luga by 30%.
Russia doubles diesel exports to Central Asia and Mongolia despite Ukrainian drone strikes against its refineries
Russia more than doubled diesel exports to Kazakhstan, Kyrgyzstan, Tajikistan and Mongolia in August, as recovering production allowed Moscow to increase supplies to neighbouring markets despite restrictions on exports to most other destinations.
Russia backs petchem expansion in Pskov with $70mn in subsidies
Russia will provide up to RUB5.81bn in federal subsidies to support preferential financing for a more than RUB21bn petrochemical expansion at Titan-Polymer’s plant in the Pskov region.
Russia mulls changes to fuel damper to account for transport costs
Russia’s finance ministry is prepared to consider changes to the country’s imported fuel damper to account for domestic transport costs, but has rejected a proposal to compensate importers for premiums paid in overseas markets.
Russian oil major Lukoil's sale of international arm to Carlyle remains up in the air
The proposed sale of around $20bn of overseas assets belonging to Russia’s Lukoil to US investment group Carlyle remains caught up in the US approval process, almost eight months after the companies announced their agreement.
Russia becomes China's second biggest LNG supplier
Russia became China’s second-largest LNG supplier in August as shipments surged, even as China’s overall LNG imports continued to fall.
Report says Russia sharply hiked diesel exports to Mongolia, Central Asia in August
Russia reportedly sharply hiked diesel exports to Mongolia and Central Asian countries in August, despite its ban on shipments to most foreign markets amid the Ukrainian military assault on its refineries.
Kazakhstan-Russia Ishim-Astana gas pipeline targeted for completion by late 2029
Kazakhstan’s Ishim-Astana gas pipeline, which is to connect the country’s northern regions with Russia’s gas transportation system, is targeted for completion by late 2029.
London's marine insurance market expands “high risk” reporting requirements to whole of Black Sea
London's marine insurance market has expanded “high risk” reporting requirements to the whole of the Black Sea area amid the escalating Russia-Ukraine war, which is bringing an increasing amount of attacks on commercial shipping by both sides.
Ukraine reconsidering partial gas exports, UBN reports
Ukraine is reconsidering a partial lifting of its ban on domestically produced gas exports, Ukraine Business News reported on September 18.
Germany’s AfD asks Kremlin to turn Russian gas back on, Hungary prepares to turn it off
Berlin and Budapest are moving in opposite directions. Germany’s AfD (Alternative für Deutschland) riding high on a recent election victory is in talks with the Kremlin on turning Russian gas supplies back on, while Budapest will turn it off.
Ukraine reconsiders partial gas exports as domestic prices fall and EU prices rise
Ukraine's government is reconsidering a partial resumption of natural gas exports as domestic prices fall further below European levels and producers seek additional foreign-currency revenues.
Azerbaijan's BTC pipeline oil transit falls 8.8% in Jan-Aug, crude exports to India surge 300-fold
Azerbaijan transported 16,746,000 tonnes of oil via the Baku-Tbilisi-Ceyhan (BTC) export pipeline running to the Turkish Mediterranean port of Ceyhan in the first eight months of 2026, with the flow down 8.8% y/y.
Azerbaijan's wind power output jumps 2,080%, chemical production falls
Azerbaijan generated 726.7mn kWh of electricity from wind power in 8M26, with the ouput equivalent to a 2,080% increase year on year, according to a report on State Statistics Committee data.
Singapore's Delixy plans up to 48% stake in Kazakhstan oil and gas project
Singapore-based oil products trader Delixy Holdings plans to acquire or merge into up to 48% of Tarbagatay Munay, the Kazakhstan operator of the Sarybulak oil and gas field in East Kazakhstan, under a non-binding letter of intent.
South Korean YPP considers $2bn green hydrogen and ammonia project in Kazakhstan
Korea's YPP Corporation is considering establishing a $2bn green hydrogen and ammonia complex in Kazakhstan’s East Kazakhstan Region, with planned annual production of up to 55,000 tonnes of green hydrogen or 310,000 tonnes of green ammonia.
Private traders ship Ukraine's surplus gas to Europe as storage tops 15bcm
Private traders have started exporting surplus gas from Ukraine's underground storage to Europe, as stocks run above expectations and domestic demand falls, Ukraine Business News reported.
Kazakhstan's Karachaganak oil field enters planned maintenance
Kazakhstan’s Karachaganak oil and gas field entered planned maintenance on September 7, with the shutdown expected to reduce national oil and gas condensate production by 400,000-450,000 tonnes before work is completed on October 1.
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