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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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Azerbaijan's oil and gas production reaches 26.5mn tonnes in January-November 2024
According to operational data from the Ministry of Energy, Azerbaijan produced 26.5mn tonnes of oil (including condensate) during the first 11 months of 2024.
EU approves 15th Russia sanction package
European Union ambassadors have agreed on the 15th sanctions package for Russia’s full-scale military invasion of Ukraine.
Biden weights Iran-style oil sanctions as goodbye gift to Russia
The Joe Biden administration is considering harsher “Iran-style” sanctions against Russian oil before handing the White House over to the president-elect Donald Trump.
Russia-Belarus Union State talks progress on security, but stall on uniting energy markets
Russian President Vladimir Putin and Belarus President Alexander Lukashenko met on December 6 to work on developing the Union State. Progress was made on improving mutual security cooperation, but little headway was made on energy markets.
Russian oil figures to China via Kazakhstan drop slightly in 2024
Russia’s oil shipments to China via Kazakhstan have remained largely stable throughout 2024, data from Kazakhstan's pipeline operator, KazTransOil, indicate.
Rosneft gets deadline extension on buying Exxon’s Sakhalin share
The deadline for selling the “unclaimed” share of foreign shareholders in the Russian Sakhalin-1 oil and gas offshore extractions project is extended until January 1, 2026, according to the newest presidential decree.
Equinor to receive $745mn from Azerbaijan asset sale
Norwegian company Equinor has completed deals to exit its production assets in Azerbaijan and Nigeria for a total estimated value of up to $2bn, according to a company statement.
Azerbaijan amends decree on Shah Deniz field and SGC projects
Indian traders dropping Russian oil shipments due to lack of profit
Large numbers of small-scale trading firms and intermediaries have recently ceased trading Russian crude oil with India due to soaring Russian interest rates and rising trade financing costs
Pakistan, Russia look at working together on oil and gas exploration
Reports stemming from intergovernmental meetings in Moscow between Russia and Pakistan suggest officials from both countries have held discussions on offshore oil and gas exploration, as well as bilateral cooperation on refining.
Iran-Russia gas supply deal reaches ‘good stage,’ Iranian deputy minister says
Iranian Deputy Oil Minister for Gas Affairs Saeed Tavakkoli said a memorandum of understanding for the transfer of Russian gas to Iran had reached a “good stage,” amid ongoing efforts to address part of the country’s energy shortage.
Bulgaria threatens to cut transit of Russian gas to Serbia
Caretaker Energy Minister Vladimir Malinov warns Bulgaria could end gas transit to Serbia to avoid breaching new US sanctions on Gazprombank.
Iranian MPs to push for gas extraction from Caspian Sea
A group of Iranian lawmakers plan to push the Oil Ministry to expand drilling for natural gas from the Caspian Sea, a legislator said as reported by Bultan News on December 10.
Equinor exits Azerbaijan and Nigeria in deals worth $2bn
Norway’s state oil company Equinor has completed its exit from upstream operations in Azerbaijan and Nigeria, finalising transactions valued at up to $2bn.
Novatek CEO very bullish on future global LNG demand
Global LNG demand will surge to around 920mn tonnes per year by 2040, the head of Russia’s biggest LNG exporter Novatek, Leonid Mikhelson, said at a forum on December 5.
Sibur launches pilot centre for polymer tech
Russia’s largest petrochemicals producer Sibur has launched the country’s first pilot centre for testing base polymer technologies, as part of a push to substitute imports in the sector.
Kazakhstan sees 74% rise in Russian oil transiting to Uzbekistan this year
Kazakhstan’s national oil transport operator KazTransOil increased the transit of Russian oil to Uzbekistan by 74% from January to November this year, to 225,000 tonnes.
EXPLAINER: US sanctions on Gazprombank and what they mean for Russian gas in Europe
The sanctions have created some uncertainty and difficulties, but are unlikely to cause disruptions to gas flows, especially now that Russia has eased its own restrictions for payments.
Moldova's separatist Transnistria region prepares for the end of free Russian gas
Unrecognised republic faces heightened energy concerns as the current transit contract for Russian gas through Ukraine is set to expire on January 1.
GL Group to drill first deep onshore horizontal oil well in Azerbaijan
The first time a deep onshore formation will be reached in Azerbaijan as GL Group intends to drill a horizontal oil well with a target depth of 4400 meters and a lateral section of approximately 400 meters according to the press release.
OPEC+ extends delay to easing restrictions
OPEC+ has further delayed its plan to ease oil production quotas
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