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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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KazMunayGas shares surge over 25% despite lack of clear market triggers
Shares of KazMunayGas (KMG), Kazakhstan’s state-run oil and gas company, have risen more than 25% over the past two months, despite the absence of significant news or clear catalysts, Kursiv reported on July 23,
Uzbekistan approves energy cooperation roadmap with sanctioned Russian oil giant Gazprom Neft
Uzbekistan’s Cabinet of Ministers has approved a roadmap to strengthen cooperation with Russian state oil firm Gazprom Neft, despite the Western sanctions that still apply to the company and its leadership.
Ukraine steps up efforts to recover $6.9bn from Gazprom through international arbitration rulings
Ukraine is intensifying efforts to recover $6.9bn from Russia’s Gazprom, following a series of favourable international arbitration awards.
Russia’s oil and gas revenues to take 37% hit
Russian state oil and gas revenue in June 2025 will decline by about 37% year on year to RUB680bn ($8.7bn) due to cheaper oil and a stronger ruble.
Azerbaijan’s Socar reportedly considering sale of Aegean Sea container port in Turkey
Azerbaijan’s national oil company Socar is mulling a sale of its port unit in Turkey, Bloomberg reported on July 22.
Kazakhstan, Uzbekistan dismantle cross-border fuel smuggling tunnel
Authorities in Kazakhstan and Uzbekistan have dismantled an underground tunnel used to smuggle fuels and lubricants across their shared border, KazTAG reported on July 22, citing the Financial Monitoring Agency (AFM) of Kazakhstan.
Kazakhstan aims to boost fuel exports to China, India and Central Asia
Kazakhstan plans to increase its fuel exports to China, India and Central Asia as part of a long-term strategy to expand its oil refining industry, Reuters reported on July 22, citing the Ministry of Energy.
Mitsubishi’s MHI-AP wins three-year Turkmenhimiya fertiliser plant service contract
Mitsubishi Heavy Industries Asia Pacific (MHI-AP), a subsidiary of Japan’s Mitsubishi Heavy Industries, has entered into a three-year service contract with state concern Turkmenhimiya (TH), the operator of Turkmenistan's largest fertiliser plant.
Kazakhstan increases oil exports via Russia as German demand rises
Kazakhstan increased oil exports via its traditional pipeline route through Russia in the first half of 2025, supported by growing demand from Germany, Upstream reported on July 21, citing data released by Kaztransoil.
Azerbaijan’s oil fund reports 3% drop in net profit, increased reliance on gold in 2024
EU's 18th sanctions package: toughest yet or merely demonstrative?
The 18th package may be remembered less for its economic impact than for its political theatre: a demonstration of European unity.
Rosneft slams EU sanctions on Indian oil refiner Nayara
Russia’s state-controlled oil company Rosneft has sharply criticised the EU’s latest sanctions package, which includes measures against Indian refiner Nayara Energy, describing the action as “unjustified and illegal.”
OGT 2025 gains momentum: over 100 delegates registered as global energy leaders confirm participation
Registration is well underway for the 30th Anniversary International Conference and Exhibition “Oil and Gas of Turkmenistan – 2025” (OGT 2025), to be held from October 22–24, 2025, in Ashgabat.
Kazakhstan Supreme Court orders new hearing on $5bn Kashagan field environmental fine
Kazakhstan’s Supreme Court has ordered a new hearing on a $5bn environmental fine imposed on the North Caspian Operating Company (NCOC), operator of the Kashagan oilfield.
Greek tankers continue to transport Russian oil despite new eighteenth sanctions package, come under Ukrainian special ops attacks
Greek-owned oil tankers are likely to continue to carry Russian oil exports, despite the passage of a new eighteenth sanctions package last week that largely targets Russia’s oil exports.
Ukrainian cyberattack cripples Gazprom’s digital infrastructure
Ukrainian hackers have reportedly wiped servers, clouds and backups, crippling the control systems in an unprecedented cyberattack on Russia’s gas champion Gazprom.
Azerbaijan’s condensate output drops 8.8% in H1 2025, while commercial associated gas rises 12.9%
Second LNG carrier docks at Arctic LNG-2
A second LNG tanker since the start of this year has docked near the Arctic LNG-2 plant in the Russian Arctic.
Russia eyes gas find offshore Mauritania formerly held by BP
Russian oil and gas companies may begin developing the BirAllah gas field on Mauritania’s continental shelf as early as this year.
Russian authorities investigate sinking of diesel spill caused by tugboat sinking in Krasnoyarsk
Authorities in Russia’s Krasnoyarsk region have completed an investigation into the June sinking of a tugboat operated by Ob-Irtysh River Shipping Co., which resulted in a major diesel spill into the Yenisey River.
Gazprom starts selling helium on SPIMEX platform
Gazprom Gazonefteprodukt Holding has begun selling helium on the St Petersburg International Mercantile Exchange.
Russian oil output slides 3.5% in 5M
Russia's oil output, including gas condensate, declined by 3.5% year on year in the first five months of this year to 211mn tonnes (10.2mn barrels per day).
EU approves eighteenth sanctions package after Slovakia drops veto
The EU has approved the eighteenth sanctions package after Slovak Prime Minister Robert Fico agreed to drop his veto, saying that he had run out of negotiating options on July 18.
CPC Blend oil exports to hold steady in August at 1.66mn bpd
CPC Blend oil shipments from the Black Sea oil export terminal in Russia are scheduled to remain stable at 1.66mn barrels per day (bpd), or approximately 6.5mn tonnes, in August, Reuters reported on July 17, citing industry sources.
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