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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 may ship Russian gas to Europe via the back door
As Ukraine seeks alternatives to Russian gas transiting through its territory, a proposed plan to substitute Azeri gas has raised concerns that Russian gas can be imported into Europe via an Azeri back door.
Revenues of Azeri state-owned company that sells gas to domestic distributors fell by 9% and net profit by 72%
Azerkontrakt, the natural gas distributor within Azerbaijan selling to Azeriqaz PU and other companies, has announced its financial results for 2023.
Russia considers diesel fuel export ban
In addition to the petroleum export ban already in place, the Russian government could introduce an export ban on diesel fuel for both refineries and traders.
Russian gas major Novatek doubles profit to $4bn in 1H24
Russian natural gas major Novatek increased its IFRS revenues by 17% year on year to RUB752bn, with EBITDA up by 16% y/y to RUB481bn, and net profit up 2.2-fold y/y to RUB342bn ($4bn).
Pakistan reiterates desire for TAPI pipeline completion during Turkmen top diplomat’s visit
Uzbek gas output continues decline in H1
Uzbekistan’s marketable natural gas production continued its decline in the first half of this year, dropping by a further 5% to 22.3bn cubic metres.
Former Ukrainian MP Medvedchuk and accomplices receive notices of suspicion in pipeline case
Russia bans gasoline exports, considers restriction on diesel
Gasoline exports will once more be banned in Russia from the start of next month in response to a spike in prices, the government announced on July 25, and authorities are reportedly considering a similar restriction on diesel.
Tajikistan increases Russian fuel imports by 14% in H1
Tajikistan increased petroleum product imports from Russia by over 14% in the first half of 2024 versus the same period last year.
OMV acquires remaining Equinor share in ACG
The overseas arm of Indian state oil company OMV announced on July 19 it had struck a deal to acquire a 0.615% stake in the BP-led Azeri-Chirag-Gunashi offshore oil project in Azerbaijan from Norway’s Equinor for $60mn
ASX-listed TMK Energy selects preferred drilling contractor for Gurvantes XXXV coal seam gas project in Mongolia
Platform leaves Murmansk for Arctic LNG-2's second train
The gravity-based platform (GBP) for the second train of Novatek’s Arctic LNG-2 terminal left its construction site in Murmansk in the early hours of July 25, on route to the Gydan Peninsula where it will be installed.
Chevron advances first phase of project to expand oil output at Tengiz despite oil export revisions for 2024
Pakistan and Turkmenistan strengthen energy ties with TAPI pipeline project
Pakistan's Federal Minister for Petroleum, Dr. Musadik Malik, hosted Turkmenistani delegation and discussed the TAPI pipeline project
Operation to complete removal of Soviet-era toxic rocket fuel component from Chuy, Kyrgyzstan inaugurated, says OSCE
Hungary, Slovakia warn of fuel crises after Kyiv partially blocks Russian oil transit
The government in Kyiv has typically avoided imposing sanctions on Russia that significantly hurt EU member states, though this would mark a rare precedent.
Ukraine stores 10bn cubic metres of gas for winter, despite Russian strikes
Ukraine has successfully stored more than 10bn cubic metres of natural gas in its underground storage facilities, ensuring a steady supply for the upcoming winter season.
Indonesia looks to break decade-long hiatus on purchasing Russian oil
Pertamina, the Indonesian state-controlled refiner, is said to be on the lookout for Russian oil grades for what will be the first time in years, according to three traders
Condor selected to build Kazakhstan’s first LNG facility
Canadian firm Condor has been chosen by Kazakhstan to construct the nation’s first LNG plant, the company announced.
SOFAZ achieves 232% return on equity index strategy
The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has reported a 232% return or $5.6bn in income from its equity index strategy since inception (as of June 30, 2024) following a $7.1bn investment.
Ukraine and EU discuss Azeri gas supply via Ukraine after Russian contract ends
Ukraine and the EU have approached Azerbaijan to discuss the possibility of supplying natural gas to Europe through Ukraine after the existing contract with Russia expires at the end of 2024.
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