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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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Ukraine's stored gas falls to critically low levels, imports urgently needed
Ukraine's natural gas reserves in its massive underground storage tanks have fallen to a critical level and the country urgently needs to import more gas, says Serhiy Makogon, the former head of Ukraine's gas transit operator.
Kazakh GDP grows 4.8% in 2024
Kazakhstan's economy expanded by 4.8% in 2024, Prime Minister Olzhas Bektenov announced on January 28 during a government meeting chaired by President Kassym-Jomart Tokayev.
Kazakhstan may renegotiate contract terms on existing PSAs covering major oil fields
President Kassym-Jomart Tokayev told a government meeting on January 28 to accelerate negotiations with international oil companies to extend existing production sharing agreements (PSAs) under revised terms more favourable to Kazakhstan.
Russia reportedly outbids EU's offer with loan for Transnistria
The unrecognised separatist region Transnistria in Moldova will receive a loan from Russia for natural gas imports through a European supplier. Alternatively, EU gave Moldova a €30mn grant and promised long-term support scheme, to be further inked.
Ukraine considers selling Sense Bank, privatising stake in Ukrnafta
Ukraine is prepared to privatise the state-run Sense Bank and is exploring the potential sale of a stake in Ukrnafta, the country’s largest oil producer.
Denmark approves preservation work at damaged Nord Stream 2 gas pipe
Denmark’s Energy Agency announced on January 28 that it had authorised Nord Stream 2 AG, a subsidiary of Russia’s Gazprom, to carry out preservation work on the Nord Stream 2 gas pipeline in the Baltic Sea.
EU to include Hungary and Slovakia in Ukraine gas talks
The European Commission will continue discussions with Ukraine over natural gas supplies to Europe, including Hungary and Slovakia in the negotiations.
Trump calls on OPEC to ramp up oil supply
"Right now the price is high enough that that war will continue," Trump said at Davos.
Expect no sanctions relief for Russian LNG
Preventing more Russian LNG entering the fast-growing gas markets of Asia over the coming years will help ensure extra US supply has a home.
Russian LNG exports hit new record in 2024
Russia exported a record 33.6mn tonnes of LNG in 2024, up 4% from the previous year, according to data from Kpler cited by Russian news agency RBC this week.
EU gives Moldova €30mn as short-term fix to energy crisis and promises longer-term plan
Targeted support to restore electricity and heat supply in the separatist Transnistria region.
BP eyes late-2024 ACG gas output, invests $200mn in solar, restores Shah Deniz platform
BP Azerbaijan expects first production under the Azeri-Chirag-Gunashli (ACG) gas development project by late 2024, according to BP Azerbaijan spokesperson Tamam Bayatli.
BP to build new platform at Azerbaijan's Shah Deniz field
BP plans to construct a new unmanned platform at the Shah Deniz gas condensate field in the Azeri sector of the Caspian Sea.
Kazakh oil production hits new record on January 26
Kazakhstan achieved a historic milestone in daily oil production on January 26, reaching 278,400 tonnes, or 2.04mn barrels per day.
Kazakhstan ships first Kashagan oil to Azerbaijan via Caspian Sea
Kazakhstan has shipped its first batch of oil from the Kashagan oil and gas field to the Azeri port of Baku.
Lukoil to commission Stavropol gas chemical complex by 2028-29
Russia’s largest independent oil producer Lukoil plans to complete the construction of a major gas chemical complex in the Stavropol region by late 2028 or early 2029.
Research highlights untapped hydrocarbon potential in the Tajik Depression
Preventing further decline in Tajikistan’s meagre oil and gas production will require further exploration of potential untapped resources, and the Tajik Depression offers some promise.
Chevron completes $48bn expansion of Tengiz oil field in Kazakhstan
Chevron has completed a major expansion of Kazakhstan's Tengiz oil field, which will enable it to reach production capacity of 1mn barrels per day (bpd) by mid-2025, Bloomberg reported on January 24.
Russian oil exports in 2024 down 2% to 295mn tonnes
Oil exports from Russia to non-CIS countries in 2024 decreased by 2.2% year-on-year to 295mn tonnes, including transit volumes through Kazakhstan.
Azerbaijan, TotalEnergies explore energy cooperation
On 24 January, Azerbaijan's Minister of Economy Mikayil Jabbarov and SOCAR President Rovshan Najaf met with TotalEnergies CEO Patrick Pouyanné during the World Economic Forum in Davos.
Uzbekistan's gas imports jump 2.4-fold, exports up 18% y/y in 2024
Uzbekistan was a net importer of natural gas for a second consecutive year in 2024, with imports rising 2.4 times to $1.68bn, up from $694.9mn in 2023, the state’s statistics agency has reported.
Uzbekistan shuts down illicit gasoline pipeline running from Kazakhstan, arrests smuggling suspects
Authorities in Uzbekistan have reportedly dismantled an illicit operation involving underground cross-border flows of AI-92 gasoline from Kazakhstan to Tashkent region.
Expected settlement of energy crisis in Transnistria may have a security cost
Pro-Russian separatist region has picked a natural gas trader, Cyprus-based Ozbor Enterprises, to import Russian natural gas through the Turkstream and Trans-Balkan pipelines, and started military drills in the Security Zone.
Kazakhstan to deliver 127,000 tonnes of oil to Germany in January
Kazakhstan's state-run oil pipeline operator, KazTransOil, reportedly plans to deliver up to 127,000 tonnes of oil to Germany by the end of January.
Gazprom, Novatek brace for tough 2025
Russian natural gas producers Gazprom and Novatek are bracing for a challenging 2025 as they work to rebuild their export strategies through a pivot to Asia.
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