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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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Ambassador outlines Turkey and Turkmenistan’s $5bn-per-year trade ambitions
Turkey and Turkmenistan have ambitions to build up their trade from the $2.2bn recorded in 2024 to more than $5bn in the not-too-distant future, said Ahmet Demirok, Ankara’s Ambassador to Ashgabat, as quoted by Turkmen state media on Feb 14.
Gas flowing to Transnistria but not enough to restart industries
Gas supplies have resumed to the breakaway Moldovan region of Transnistria, but volumes remain insufficient to restore industrial activity and provide consistent hot water.
Russia mulls tougher gasoline exports ban from March 1
Russia could tougher the gasoline exports ban ahead of the start of the agricultural season
Ukrainian drone strikes Kazakhstan’s main oil export pipeline route in Russia
Attack comes on same day Hungarian and Kazakh top diplomats back idea of Ukraine conflict talks between Putin and Trump.
Istanbul-listed Petkim’s port unit obtains $140mn three-year loan from JPMorgan at SOFR+4.35%
Port operator Petlim, a unit of Turkish petrochemical producer Petkim (PETKM), has obtained a $140mn three-year loan from JPMorgan.
Ukrainian gas reserves fall to record low as supply deficit persists
Ukraine’s natural gas reserves have dropped to their lowest level in at least a decade as the country struggles to transition to full self-sufficiency in gas production.
Russian railway bottlenecks disrupt oil, fuel transport
Russia’s railways have played a greater role in facilitating oil and petroleum product deliveries as a result of EU embargoes, which have restricted the volume that can be exported via pipeline. This has led to significant bottlenecks.
Tengiz oil field operator TCO extends annual MoU on LPG supplies to Kazakhstan’s market
Kazakhstan’s Energy Ministry and Tengizchevroil (TCO) have signed an agreement extending their annual memorandum of understanding on continuing to provide stable liquefied petroleum gas (LPG) supplies to the domestic market in 2025.
Kazakhstan is finding it increasingly hard to comply with OPEC+ cuts: Rystad
Output from Tengiz is projected to rise by about 25% this year compared to 2023, with peak production of 870,000 bpd anticipated in 2026, according to Rystad Energy.
Novatek acquires another carrier for Yamal LNG ship-to-ship transfers
Russia’s Yamal LNG project, operated by Novatek, has added another gas carrier to facilitate ship-to-ship transfers near the Arctic port of Murmansk.
SOCAR signs energy cooperation agreement with India's ONGC and MRPL
Azerbaijan's energy production stable as investments in Shah Deniz and ACG continue
Azerbaijan's energy sector maintained steady production in 2024, with significant investments directed toward the Shah Deniz gas-condensate field and the Azeri-Chirag-Gunashli oil and gas block, according to BP report.
Ukraine’s Ukrnafta plans 200 MW of renewable energy capacity alongside gas projects
Ukraine’s largest oil producer, Ukrnafta, plans to build around 200 MW of renewable energy capacity, including solar and wind projects, within the next two years.
Russia strikes Ukraine’s gas infrastructure as Kyiv targets Saratov oil refinery
Russia has launched fresh strikes on Ukraine’s gas infrastructure, damaging production facilities in Poltava and cutting gas supplies to nine settlements in the Myrhorod district.
Gas transit through Slovakia to Ukraine spikes by 60% in three days
Shipments of gas to Ukraine through Slovakia increased by 60% on February 13 compared to the beginning of the week, February 10.
Biggest Turkish refiner Tupras reportedly restricting Russian oil purchases amid tightened sanctions
Biggest Turkish refiner Tupras is reportedly placing restrictions on its purchases of Russian oil and fuels in order to steer clear of potential breaches of US sanctions.
QazaqGaz secures agreement with PetroChina to increase gas exports
Fitch forecasts peak gas output for Azerbaijan as oil production continues to fall
Azerbaijan’s gas production has risen significantly in recent years and could reach its peak this year or next, according to Fitch Ratings Managing Director and Head of Sovereign Ratings for Emerging Europe, Erich Arispe
US Energy Department offers fresh figures on Caspian Basin energy reserves & production
A comprehensive overview of the regional energy sector.
UK court rejects Russia’s appeal in Yukos case
A London court rejected Russia’s appeal claiming state immunity to avoid the enforcement of a $60bn arbitration award in the case brought by former shareholders of Yukos oil major.
Russian gas major Novatek ups profit 5% to $6bn in 2024
Russian natural gas major Novatek posted increase in net profit and revenues in 2024 despite sanctions against LNG projects.
Iran, Turkmenistan in talks over energy as Tehran reportedly seeking gas imports
Top energy and foreign affairs officials of Iran and Turkmenistan stressed the need to foster cooperation in the oil and gas sectors, as Iran struggles to tackle its worsening gas shortage amid freezing winter temperatures.
Russian gas supplies to Europe via TurkStream hit new all-time high in January
Russian gas supplies to Europe via the TurkStream gas pipeline set a new record last week, according to data from the European Network of Gas Transmission System Operators.
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