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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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Slovakia’s SPP begins importing Russian gas via TurkStream
Slovakia’s largest gas company, state-owned Slovensky plynarensky priemysel, is importing Russian gas via TurkStream pipeline.
Ukraine to import at least 1 bcm of gas by end-2025, minister says
Ukraine will need to import at least 1bn cubic metres of natural gas, and possibly more, before the end of 2025 to ensure adequate supplies for the next heating season.
Russian oil pump maker Borets could be nationalised
One of top three largest oil pump producers Russian Borets could be nationalised
Germany looks to repurpose Nord Stream 2 for green gas project
German authorities are considering re-tasking the Nord Stream 2 pipeline to deliver green hydrogen or natural gas from Finland.
Bulgaria’s president says the country still receives Russian gas
Bulgaria’s President Rumen Radev said on February 5 that Bulgaria continues to import Russian natural gas despite joining the EU-wide ban, Mediapool news outlet reported.
OPEC+ continues with production plan despite Trump’s demands
OPEC+ has decided to continue with its current oil production plans after a review meeting on February 2 despite calls from US President Donald Trump to lower crude prices.
US LNG exports stay near record high in January
US exports of LNG were near a record high in January, with the world’s largest exporter of the super-chilled fuel shipping 8.46mn tonnes.
Fico reiterates imports of Azeri gas are being debated
Slovakia’s populist Prime Minister Robert Fico reiterated that shipments of gas from Azerbaijan are being discussed following his talks in Brussels.
Data shows oil deliveries from Russia to Turkey hit record high in 2024
Oil deliveries from Russia to Turkey hit a record high in 2024, registering at 323,000 barrels per day (bpd), marking a 36% gain versus the previous record of 254,000 bpd set in 2022, according to data from analytics company Kpler.
Ukraine to import up to 3 bcm of gas in 2025 to cover shortages, ex-minister says
Ukraine will need to import 2-3bn cubic metres of natural gas in 2025 to address supply shortages, former Energy Minister Olga Buslavets said, as the country prepares for another year of energy challenges.
Europe's gas crisis is back with a vengeance
A year ago, many market watchers were warning that it was premature to say Europe’s gas crisis was over. Now it seems it is back with a vengeance.
Kazakhstan’s Tengiz field reportedly sees oil output surging to 870,000 bpd in late January
Oil production at Kazakhstan’s Tengiz field reportedly surged to a record 870,000 barrels per day (bpd) in late January, marking a 45% increase from the 2024 average.
EU sanctions envoy takes on delicate “compliance” issues on visit to Kazakhstan
Given Russian-Kazakh economic integration, Europe cannot hope to stop every illicit shipment from the Central Asian country to Moscow’s war economy, but there are some notable successes.
Russian refineries see 2.5% dip in oil deliveries in 2024
Crude oil deliveries to Russian refineries declined by 2.5% year on year in 2024 to 271.4mn tonnes, while refining volumes fell by 3.1% to 266.5mn tonnes.
Kazakh wealth fund buys shares in KMG
Kazakhstan’s National Welfare Fund Samruk-Kazyna acquired more than 346,500 ordinary shares of national oil producer KazMunaiGas in the fourth quarter of last year.
Kazakh producer Lucent to help revive Borankol gas processing project
Kazakh privately-owned junior producer Lucent Petroleum plans to produce up to 1.7 mcm of gas per day at the Munaybai field in west Kazakhstan and transport it via pipeline to the Borankol gas processing plant.
Russia sees 14% decline in new well commissioning in 2024
The number of new oil wells commissioned in Russia dropped by 12% last year to 7,610, the Moscow-based Vedomosti newspaper reported on January 28, as Russian operators cut down on drilling in response to OPEC+ restrictions on production.
Moldova begins gas supplies to separatist region Transnistria under short-term fix to energy crisis
Moldova’s state energy trader Energocom will purchase natural gas from the EU market and/or Ukraine to supply separatist region Transnistria with up to 3mn cubic metres per day, financed from the €20mn of the €30mn grant extended by the EU.
Russian gas flow to EU via TurkStream up 27% in January
Exports of Russian natural gas to the EU via the TurkStream pipeline rose by 27% year on year in January, reaching 1.56 bcm.
Sibur shuts down Kstovo petchem plant after drone strike
Russia’s biggest petrochemicals producer Sibur has suspended product shipments at its Kstovo production complex after debris from a downed drone fell onto its premises, causing a fire.
COMMENT: Ukraine eyes key role in Azerbaijani gas transit to Europe
Kyiv wants to become a transit hub for Azerbaijani gas after ending Russian gas transport, but plan faces political, logistical and economic hurdles.
Ukraine’s Naftogaz begins importing natural gas amid supply concerns
Ukraine’s state energy company Naftogaz has started importing natural gas from abroad, despite earlier assurances that the country would rely solely on domestic production for the winter heating season.
OPEC+ weighs Trump policy as oil prices jump on tariff concerns
COMMENT: Trump should do a deal with OPEC and tighten sanctions further to collapse the Russian economy
As its parting shot, the Biden administration imposed the toughest sanctions yet on Russian oil. The incoming Trump administration is changing tack and talking about negotiations, but should tighten sanctions further and cause Russia real pain.
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