FSUOGM - Former Soviet Union Oil & Gas

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Oil & Gas

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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.

FSUOGM is a fully digital publication and can be read via PDF, PageSuite or via our NewsBase App.

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Russian gas supplies to Uzbekistan via Kazakhstan rose 15% in 2025, says Gazprom

13 June 2026

Uzbekistan's natural gas imports from Russia reportedly rose by 15% in 2025.

Russian research firm Euler expects Urals oil discount to narrow to $17 per barrel by end of year

13 June 2026

The discount for Russia’s Urals crude to Brent is expected to narrow to $17 per barrel by the end of 2026, down 26% from the second quarter.

London court concludes hearings on Nord Stream insurance dispute

13 June 2026

A London court has concluded hearings in a dispute over insurance payouts to the operator of the Nord Stream gas pipelines following the 2022 explosions in the Baltic Sea.

Kazakhstan presses ahead with gas processing project at Kashagan oilfield

13 June 2026

Kazakhstan has moved ahead with plans to build a 2.5 bcm-per-year gas processing plant at the Kashagan oilfield, a project expected to support higher oil production at one of the country’s largest upstream assets.

Trading arm of Ukraine's DTEK receives US LNG at Dutch terminal

13 June 2026

D.TRADING, the trading arm of Ukraine’s DTEK, has delivered a US LNG cargo to the Gate terminal in Rotterdam, expanding its role in Europe’s gas market.

London-listed oil player Pennpetro eyes expansion in Ukraine and US

13 June 2026

Pennpetro Energy plans to acquire an initial minority stake in the Limnytska oil and gas licence in western Ukraine as it looks to build a diversified portfolio of producing and near-term oil and gas assets.

Russian arbitration court to hear Gazprom lawsuit against Poland's Orlen on July 24

13 June 2026

An arbitration court in St Petersburg has scheduled a hearing for July 24 in Gazprom’s lawsuit against Poland’s Orlen and Europol Gaz.

Russia's Afipsky oil refinery damaged in drone strike

13 June 2026

Russia’s southern regions came under another large-scale Ukrainian drone attack overnight on June 10-11, damaging the export-oriented Afipsky oil refinery in Krasnodar region and worsening fuel supply shortages in Crimea and Sevastopol.

Gazprom sells 110,000 of treasury shares held by liquidated entities in 2025

13 June 2026

Gazprom sold 111,009 treasury shares on the market last year from liquidated legal entities after receiving them under rulings by the Arbitration Court of St Petersburg and Leningrad region.

Azerbaijan to supply more diesel to Armenia as relations improve

13 June 2026

Azerbaijan lifted restrictions on transit cargo to Armenia through its territory in October 2025.

Japan's SODECO group asks Tokyo to exempt Sakhalin-1 project from Russian oil price cap

13 June 2026

Japan’s Sakhalin Oil and Gas Development Co. has asked the Japanese government to seek an exemption from the Russian oil price cap for the Sakhalin-1 project.

Why the Baku-Supsa pipeline is back at the center of the energy game

13 June 2026

The transfer of operational functions of the Western Route Export Pipeline, better known as the Baku-Supsa pipeline, to the state authorities of Azerbaijan and Georgia may at first glance look like a purely technical development.

Uzbekistan takes back full ownership of Fergana Oil Refinery from Saneg

11 June 2026

Uzbekistan's Fergana Oil Refinery has returned to full state ownership, four years after being transferred to private management and two years after its sale to privately held energy group Sanoat Energetika Guruhi (Saneg).

Naftogaz reaches deal to restructure €1.2bn in Eurobonds

11 June 2026

Ukraine's state-owned energy giant Naftogaz has reached an agreement in principle with bondholders to restructure around €1.2bn worth of Eurobond obligations.

Kazakhstan faces calls for higher oil exports amid supply concerns

11 June 2026

Kazakh Energy Minister Yerlan Akkenzhenov said on June 10 that Kazakhstan is facing requests from international partners to increase crude oil exports despite production constraints linked to the OPEC+ agreement.

Kazakhstan to build first ammonia-urea plant with investment of $1.65bn

11 June 2026

Kazakhstan will construct its first ammonia-urea production plant in its southwestern city of Aktau under a KZT 804.2bn ($1.65bn) investment project aimed at reducing fertiliser imports and expanding the country's export capacity.

Moldovan regular extends mandate of Russian-controlled Moldovagaz to supply gas to Transnistria

10 June 2026

ANRE said the decision was taken to ensure uninterrupted gas supply and improve supply reliability in the region.

Ukraine's Naftogaz strikes first long-term LNG contract

10 June 2026

The agreement comes as Ukraine seeks to bolster its energy security ahead of next winter.

Russia in talks to acquire Arc7 LNG carriers ahead of further sanctions

10 June 2026

Negotiations are being conducted by Singapore-based Novatek Gas & Power Asia, a Novatek subsidiary, with representatives from Mitsui O.S.K. Lines and Hanwha Ocean.

US EIA predicts gaping deficit in oil supply for full year

10 June 2026

Supply will fall 7mn bpd, and demand by only 1mn bpd.

EU proposes further sanctions on Russian energy and banking sectors

10 June 2026

The proposed 21st sanctions package would pause adjustments to the G7 oil price cap mechanism until January next year to avoid market disruption following tensions in the Middle East and the temporary closure of the Strait of Hormuz.

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