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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 exports in H124: Italy, Israel and India as top destinations
In the first half of 2024, Azerbaijan exported oil worth $2.721bn to Italy, making it the leading destination for Azerbaijan's oil exports.
Ukraine boosts gas production to record levels, ensures ample fuel storage
Ukraine has significantly increased its gas production, achieving a record high and ensuring sufficient fuel storage for new gas generation.
SOCAR wants to buy 51% of Azer-Turk Bank
Russia could prolong petrol exports ban to September-October
Russia’s Ministry of Energy proposes to prolong the gasoline and diesel fuel exports ban until September and October, according to RBC business portal. Non-refining market players could be banned from selling fuel abroad until the end of 2024.
Slovenia signs gas supply memo with Azerbaijan
Slovenia’s gas supplier Geopliin signed a memorandum of cooperation in gas supply with Azerbaijan’s state oil company SOCAR on July 17, SlovenianThe Ministry of the Environment, Climate and Energy announced.
ASX-listed Jade Gas moving to partner with China’s DWK to develop Mongolia’s Red Lake field
Austria seeks to end gas supply contract with Russia
Austria’s Minister of Energy Leonore Gewessler formed a commission earlier this month to examine whether the country can annul a gas supply contract that is held by Austria OMV and Russia’s Gazprom.
BP: oil demand and emissions will peak in 2025
Oil super major BP's latest outlook on global energy trends suggests a potential peak in worldwide oil demand as early as next year, a development that could mark a significant turning point in global carbon emissions by 2025.
Russia increases LNG and piped gas exports to Europe in 1H24 despite sanctions
Russia increased its exports of liquefied natural gas by 9% (or 2bn cubic metres) and piped gas by 7% in the first half of 2024 y/y, according to a report by the International Energy Agency (IEA).
Kazakhstan settles dispute with Moldovan businessman Anatol Stati that lasted more than decade
Case over oil and gas assets seized by state was fought in multiple locations around world and at one point led to civil racketeering lawsuit filed in US.
Global oil supply to continue outstripping demand in H2: IEA
Global oil demand in the second half of this year will be higher than supply, putting upward pressure on prices.
Lukoil seeks state support to build advanced refining units in Volgograd
Russia’s second-largest oil company Lukoil has proposed that the government provide measures to support the construction of advanced processing units at refineries.
The world needs $8.2 trillion in upstream gas investment to meet demand in 2050: GECF
Meeting projected global demand for natural gas in 2050 will require some $8.2 trillion in investment in exploration and production.
AIM-listed Petro Matad wants initial oil production at Mongolia Heron field by year-end
BP awards more than $300mn contract for Caspian vessel
BP has awarded a contract worth over $300mn for the operation and maintenance of a subsea construction vessel to support its operations in the Azeri zone of the Caspian Sea.
Russia's Sovcomflot suffers disruptions with LNG tanker fleet amid sanctions
The EU has placed Sovcomflot and its tankers under restrictions in its 14th package of sanctions against Russia.
Turkmenistan produces record 40.2 bcm of gas in 1H24
Turkmenistan produced a record 40.2bn cubic metres of natural gas in the first half of 2024, chairman of the State Statistics Committee Dovletgeldi Amanmuhammedov said at a Cabinet of Ministers meeting.
Azerbaijan invests heavily but sees declines in energy sector benefits
In H1 2024, Azerbaijan's energy sector showed varied results. According to the State Statistics Committee, the electricity, gas and steam production, distribution and supply sectors produced products worth AZN1.55bn, a 1.9% decrease y/y.
South Africa eyes Russian LNG
South Africa should not be “ashamed of importing gas from Russia,” the former country’s energy minister, Gwede Mantashe, told parliament in Cape Town on July 11.
Tatneft to help develop one of Azerbaijan's oldest oilfields
Russian mid-sized oil company Tatneft will take part in the development of Azerbaijan's oldest oil and gas fields, the company’s general director Nail Maganov said at a forum in Tatarstan.
Rosneft secures tax breaks at Vostok Oil
Russian national oil company Rosneft’s giant Vostok Oil megaproject will have exemptions from sweeping tax hikes approved by the country’s parliament last week.
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