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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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Russia rerouting Kazakh oil exports from Baltic to Black Sea, says report
Russia is said to be rerouting Kazakhstan’s crude oil exports from the Baltic port of Ust-Luga to Novorossiysk on the Black Sea, freeing capacity at the Baltic terminal for additional Russian shipments.
CPC oil shipments fall 7.4% y/y in 1H26
Caspian Pipeline Consortium (CPC) shipments reportedly fell 7.4% y/y to 33.3mn tonnes in 1H26, down from 36mn tonnes a year earlier, as disruptions at its Black Sea terminal reduced export capacity.
Russia’s second domestic ice-class LNG carrier departs on Northern Sea Route
Russia’s second domestically-built Arc-7 ice class tanker has begun transiting the Northern Sea Route.
Greece's Dynagas carried a third of Russia's Yamal LNG as Athens won its sanctions exemption
Tankers linked to Greek shipowner Dynagas carried more than a third of Russia's Yamal LNG this year, the same company at the heart of Greece's fight over EU sanctions.
Uzbekneftegaz former chairman denies role in alleged $656mn losses
Former Uzbekneftegaz chairman Bakhodirjon Sidikov has reportedly denied all 19 charges against him in a criminal trial involving the state-owned oil and gas company.
Uzbekistan invites China’s Sinopec to propose technology for 6,000-metre Ustyurt wells
Uzbekistan plans to drill oil and gas wells up to 6,000 metres deep in the western region of Ustyurt and has invited China’s Sinopec to propose technologies and commercial solutions for high-pressure, high-temperature projects.
Nostrum Oil & Gas agrees $304mn sale of Kazakhstan operations
Nostrum Oil & Gas has agreed to sell its Kazakhstan operations for $304mn as the oil and gas producer prepares for an orderly wind-down following the maturity of its debt.
Turkey slashes Russian oil imports amid drone disruptions to Black Sea shipments
Turkey cut crude imports from Russian ports in July as Ukrainian drone attacks disrupted Black Sea exports, with shipments expected to decline further this month.
Russia's fuel prices see 7.4% climb over H1
Retail fuel prices in Russia rose sharply in the first half of this year, with independent filling stations seeing particularly steep increases as supply tightened amid ongoing Ukrainian drone strikes against refineries.
Gas transit through Georgia rises 1.3%, oil transport falls 8.5% in first seven months
Analysts predict mid-to-high $80s per barrel oil prices for this year
Oil price forecasts for 2026 are converging around the mid-to-high $80s per barrel after months of extreme revisions triggered by the Middle East conflict.
Kazakhstan's KazTransOil doubles oil transfers via CPC in July despite drone disruptions
Kazakhstan's oil transport operator KazTransOil more than doubled crude transfers into the CPC system year on year in July, while also resuming shipments through Georgia's Batumi oil terminal after a two-month break.
Russia once more strikes Ukraine's Kremenchuk oil refinery used for storage
Russia has launched another strike on the Kremenchuk oil refinery site, targeting infrastructure that has largely ceased functioning as a refinery but is still believed to be used for fuel storage.
Russia to face fresh fuel squeeze in autumn amid refinery maintenance
Russia could face a fresh fuel squeeze this autumn as refinery maintenance coincides with lower Belarusian supplies and continued drone attacks.
Russia's Black Sea Sheskharis terminal resumes oil loadings following drone strike
Loadings at Sheskharis were halted on August 14 and resumed on August 16.
Kazakhstan's KMG aims to ramp up oil and gas exploration significantly in years to come
Kazakhstan's state-owned KazMunayGas plans a major increase in exploration over the next four years, including the drilling of 26 exploration and appraisal wells, as it seeks to replenish a resource base being depleted at its mature producing fields.
Kazakhstan offers up underexplored oil and gas areas to investors
Under the new system, an investor can select a prospective area from the list and submit an application to the energy ministry requesting that it be put up for auction.
Iran, Tajikistan discuss long-term deal on crude oil, fuel supplies
Iran and Tajikistan have agreed to establish a mechanism to export petroleum products and supply Tajikistan’s refineries with crude oil and fuel under a long-term contract, Iranian Oil Minister Mohsen Paknejad said.
Kazakhstan alleges $10.7bn in compromised Kashagan oil field contracts, says report
Kazakhstan is reported to have alleged in confidential international arbitration proceedings that international oil companies awarded about $10.7bn in Kashagan contracts that involved self-dealing, unjustified cost increases or bribery.
Serbia targets 500 MW gas power plant near Niš by 2030
Belgium leads EU buyers as Russian LNG sales to the bloc jump 57%
The EU bought €809mn of Russian liquefied natural gas in June, 57% more than a year earlier, with Belgium the single biggest buyer.
Moldova says it has enough gas for this winter, but prices are an uncertainty
Moldova has secured all the gas it expects to need this winter and 76% of demand for the full 2026-27 gas year, reducing supply risk but leaving prices uncertain.
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