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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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Iran pips Saudi Arabia and Russia as having world's cheapest gasoline
READ MORE: Iran's petrol now world's cheapest at just $0.018/litre, undercutting Saudi Arabia's $0.62 rate amid growing pressure for subsidy reforms.
Hungary and Slovakia vow to resist EU plan to phase out Russian gas
Hungary and Slovakia will coordinate opposition to the European Commission’s plan to phase out Russian natural gas and nuclear fuel by 2027, warning that the proposal poses serious risks to their national energy security and economic stability.
HALLIGAN: Power struggle in OPEC+ is pulling oil prices down
The oil market has entered choppy waters once again. Crude prices fell by a dramatic 18% in April y/y – the sharpest monthly drop since November 2021 – partly due to a global slowdown, but more due to a power struggle within OPEC+.
Kazakhstan’s KMG says oil price volatility can be navigated, OPEC+ moves threaten country with possible recession
Kazakhstan’s national oil company KazMunayGas (KMG) has told reporters that it is fully prepared to navigate recent oil price volatility.
Kazakhstan introduces petrochemical investment roadmap, focusing on six projects worth $15bn
Kazakhstan, intent on driving for more high-value-added production based on its plentiful oil and gas reserves, is pursuing petrochemicals as a strategic national priority and has introduced a roadmap for 2024–2030.
Moldova signs three-year deal with OMV Petrom on Neptun Deep gas
Moldovan state-owned energy trader Energocom has signed a three-year contract with Romania’s OMV Petrom to purchase natural gas from the Neptun Deep offshore field in the Black Sea, announced Energy Minister Dorin Jungietu.
Azerbaijan earned $2.22bn from oil and gas pipelines in 2024
In 2024, Azerbaijan generated AZN3.77bn ($2.22bn) in revenue from cargo transport via its main oil and gas pipelines, according to the State Statistics Committee.
Looking at ramifications of China’s shifting energy usage patterns on Central Asia
Renewables are up, fossil fuels down.
Turkmenistan’s de facto leader in rare visit to Elysee Palace, France examining any gas supply potential
French President Emmanuel Macron on May 5 hosted de facto leader of Turkmenistan Gurbanguly Berdimuhamedov for talks.
Uzbekistan suffers fourth blowout at M-25 gas field
Uzbekistan has reported a fourth blowout at the M-25 gas and condensate field, with the latest incident occurring on May 5 at well No. 202. It had been idle since a March 27 blowout.
Uzbekneftegaz eurobond issue raises $850mn
Ukraine April gas storage injections down 44% on 2024 after delayed start to injection season
Ukraine injected 258mn cubic metres of natural gas into its underground storage facilities in April, according to calculations by energy consultancy ExPro.
Diesel deals push Brazil closer to Russia
Brazil’s strategic partnership with Russia has strengthened significantly since the start of Moscow’s full-scale invasion of Ukraine primarily due to Russia's cheap fuel supply, Ukrainian Ambassador to Brazil Andrii Melnyk told RBC-Ukraine.
Uzbekistan breaks energy monopolies in move toward WTO membership
Uzbekistan has dismantled the decades-long natural gas transmission monopoly held by Uztransgaz as part of reforms designed to help liberalise the country’s economy and meet conditions for World Trade Organization (WTO) membership.
China's CHN Energy pledges $4bn investment in Kazakhstan's ammonia and carbamide production
Chinese state-owned enterprise CHN Energy has expressed its readiness to invest $4bn in ammonia and carbamide production projects in Kazakhstan.
Hungarian Commissioner delays EU plan to curb Russian energy dependence
Hungary's EU Commissioner Oliver Várhelyi raised a last-minute objection to delay the approval of the EU's roadmap for ending the bloc's Russian energy reliance.
Petronas signs up for more Turkmen offshore blocks
Malaysia’s Petronas signed a memorandum on April 24 with Turkmenistan’s state-owned oil company Turkmennebit on exploring additional blocks in the Turkmen sector of the Caspian Sea.
Russia sharply revises 2025 budget forecast amid weaker oil prices
Russia has sharply revised its 2025 budget deficit forecast, widening the gap to 1.7% of gross domestic product from a previous estimate of 0.5%.
EU could wind down all Russian gas by 2027
EU said to prepare a sanction plan to phase out Russian gas imports by 2027
Russia completes first verified emissions trades as part of Sakhalin trial
Russia has completed its first verified trade of greenhouse gas emission quota units under its trial for a carbon trading market in the Far Eastern region of Sakhalin.
Novatek slumps to RAS lost in Q1
Russia’s largest LNG producer Novatek reported a net loss of RUB35.3bn ($382mn) in the first quarter of this year under Russian accounting standards.
Kazakhstan slaps $119mn in environmental fines on major oil producers
Kazakhstan has imposed more than KZT61.1bn ($119mn) in environmental fines on four major oil producers between 2022 and 2024.
Gazprom returns to profit in 2024 after first loss in decades in previous year
Russia’s state gas exporter Gazprom swung back to profit in 2024, the year after suffering its worst loss in decades in the previous year, on the back of higher export volumes and revenues.
BLOG: The EU’s glacial push to eliminate Russian LNG
The EU is continuing to grapple with the complex challenge of eliminating its remaining oil and gas imports from Russia, as the European Commission prepares to unveil a roadmap this week outlining how to achieve that goal, hopefully by 2027.
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