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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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Turkmenistan still venting like crazy, methane super-emissions data show
Country clearly still needs a kick in the gas.
UK removes sanctions on two subsidiaries of Russian Lukoil in Bulgaria
UK issues a license temporarily lifting sanctions from two Bulgarian subsidiaries of Russian oil major Lukoil
Fitch affirms Uzbekneftegaz at ‘BB’, notes company’s falling gas output
Fitch Ratings has affirmed JSC Uzbekneftegaz's (UNG) Long-Term Issuer Default Rating (IDR) at 'BB' with a Stable Outlook, while at the same time noting the company’s falling gas output.
India confronts stricter US sanctions as Russian oil imports decline
India’s reliance on discounted Russian crude — a pillar of its energy strategy since 2022 — has come under renewed strain as Washington tightens sanctions and imposes fresh tariffs on Moscow’s energy sector.
Romania avoids taking over management of Lukoil refinery
Romanian authorities plan to draft framework legislation to facilitate the sale of Lukoil’s assets, including the Petrotel refinery. Initially, Romania planned to take over temporarily the management of the refinery.
LONG READ: How oil price discounts became a barometer of the sanction’s effectiveness
When Russian troops crossed into Ukraine in February 2022, the country’s main crude export blend, Urals, was still trading in line with its traditional discount to Brent of $2. A month later Russia discounted it by $30 to find buyers.
Trump still wants full control for support of Russia sanctions bill
China’s Yangchang Petroleum purchases crude from UAE and Kazakhstan after halting Russian oil imports
US super-majors circle around Lukoil’s assets in Kazakhstan and Iraq
Exxon Mobil has reportedly joined Chevron in exploring potential acquisitions of Lukoil’s international assets since the US Treasury authorised companies to begin discussions with the sanctioned Russian oil firm.
Mongolia-focused TMK Energy reports production milestone at “enormous, discovered gas resource on doorstep of China”
TMK Energy (ASX: TMK) on November 18 announced a record gas production milestone at its 100%-owned Gurvantes XXXV Coal Seam Gas (CSG) Project in Mongolia.
Ukraine agrees rapid gas supply deal with Greece as Russian strikes hit energy system
Russia’s Tatneft to pay 3Q25 dividends
Tatneft of the Republic of Tatarstan remains one of the most consistent dividend payers among Russian oil names
Mongolia to create working group to develop Soyuz Vostok gas pipeline
Tsivilev said Russia remained committed to the successful and timely execution of the pipeline project.
Novatek ends eastbound LNG exports via the Northern Sea Route
The last shipment is being carried by the Arc7 tanker Boris Vilkitsky, and no further vessels are heading east, marking the end of the region’s spring–summer navigation period.
Yamal LNG risks losing insurance for vessels after UK sanctions
All vessels serving Novatek’s Yamal LNG plant are currently insured by the UK P&I Club, a leading mutual insurer whose structure pools liability among member shipowners in the event of a claim.
KMG, UNG agree to explore oil block in west Kazakhstan
KMG and UNG plan to drill two exploration wells, each 2,000 metres deep, on the Zharkyn block in Kazakhstan’s Mangystau region.
Russia to invest $5bn in new Fast East shipyard
The project involves the construction of a shipyard at Promezhutochnaya Bay with planned production capacity of up to 12 vessels per year.
Ukraine's DTEK imports first US LNG cargo
The shipment marks the first time a Ukrainian private energy company has chartered a vessel and arranged loading on FOB terms in the US.
Chevron throws hat into Lukoil’s overseas assets bidding as US eases restrictions – Reuters
Italy remains top buyer as Azerbaijan exports $10.85bn of crude oil in ten months
Azerbaijan exported crude oil worth about $10.85bn in January–October 2025, with Italy retaining its position as the main buyer, according to State Customs Committee.
Kazakh energy minister denies speculation over talks to acquire Russian Lukoil’s assets
Kazakhstan is not in discussions with Russia’s Lukoil on acquiring the company’s assets in the country, Energy Minister Yerlan Akkenzhenov told reporters on November 17.
Kazakhstan files for arbitration in Switzerland in longrunning disputes against oil majors
Kazakhstan has escalated its longrunning disputes with major international oil companies by filing for arbitration in Switzerland in two cases that together seek up to $166bn in damages, it was reported on November 17.
OFAC extends Russian oil major’s Lukoil license for asset sales
The US Treasury extends the asset sale licence for sanctioned independent Russian oil major Lukoil
Uzbekistan's Allied Biofuels, India’s Praj Industries sign MoU to develop region’s biggest ethanol and SAF facility
Uzbekistan-registered Allied Biofuels FE LLC and India’s Praj Industries Ltd have signed a memorandum of understanding (MoU) on developing Central Asia’s largest ethanol facility.
Three companies interested in acquiring Lukoil’s Romanian refinery
At least three companies have expressed interest in acquiring Lukoil’s Petrotel refinery and parts of its fuel station network in Romania, Minister Bogdan Ivan said. Hungary's MOL and Greek Hellenic Petroleum may compete with US fund Carlyle.
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