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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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SOCAR enters Israeli Tamar gas field with 10% stake acquisition
Azerbaijan's State Oil Company (SOCAR) has signed an agreement to acquire an effective 10% stake in the Tamar gas field, one of the largest offshore gas reservoirs in the Mediterranean according to company press release.
Russia to audit its oil tanker fleet in wake of Kerch disaster
Two Russian oil tankers were caught in storm on December 15, with one of the vessels breaking in two and sinking, while the other was damaged, causing her to drift for several hours until running aground.
China retakes number one position from Russia in exports to Turkey
Russia in 2024 lost its position as Turkey's main source of goods imports, with China edging ahead to regain the lead it held before 2022, official statistics from the Turkish Statistical Institute (TUIK, or TurkStat) showed on January 31.
Jade Gas coal bed methane project strategy “well advanced” in South Gobi, Mongolia
ASX-listed Jade Gas on January 31 said it is well advanced in delivering on its commercial strategy for its coal bed methane (CBM) gas project at the Tavantolgoi basin in Mongolia in the South Gobi region of Mongolia.
Azerbaijan’s SOCAR acquires stake in Israeli gas field
The NOC has made its first acquisition in the East Mediterranean, after its award of acreage in a licensing round went cold amid geopolitical instability
Uzbekistan’s Saneg turns flared gas into fuel
By utilising associated gas produced at oilfields rather than flaring it, Saneg is bolstering Uzbekistan's energy supply while tackling emissions.
Will the Nord Steam gas pipelines be turned back on soon?
The idea of restarting Russian gas deliveries to Europe via the damaged Nord Stream 1 & 2 pipelines has been introduced as a possible bargaining chip in the mooted Russo-Ukraine ceasefire talks. If it happens it would solve many of Europe's problems.
Seven bid for Lukoil’s Bulgarian refinery, PM Zhelyazkov says
Lukoil has been actively seeking to sell its Bulgarian assets since December 2023, when Sofia banned imports of Russian crude oil.
Turkmenistan to run international tender for construction of soda ash, caustic soda plants
Naftogaz says Ukraine has sufficient gas reserves for heating season
Ukraine’s state energy company Naftogaz Group has assured that the country has enough gas reserves to sustain the heating season, even as officials warn of potential import needs if demand spikes in freezing conditions.
Kazakhstan bans export of petrol and diesel fuel by road and rail
Kazakhstan has officially banned the export of petrol and diesel fuel by road and rail.
Kazakhstan plans to export 250,000 tonnes of oil from Kashagan via BTC in 2025
Kazakhstan’s state-owned energy company, KazMunayGaz, plans to export approximately 250,000 tonnes of crude oil from the giant Kashagan oilfield via the Baku-Tbilisi-Ceyhan (BTC) pipeline in 2025, the company announced on January 29.
OPEC+ to discuss Trump proposal on US oil output expansion
The OPEC+ alliance of major oil producers is set to deliberate on US President Donald Trump’s recent proposal to expand American oil output, Kazakh Energy Minister Almasadam Satkaliyev told a briefing on January 29.
Transnistria accepts EU’s €30mn aid for energy crisis but asks for clarifications
The separatist region Transnistria in Moldova accepts the EU's help to overcome the deep energy crisis caused by the interruption of Russian gas supplies at the beginning of this year. However, specific use of the aid is prompting controversy.
Azerbaijan’s oil fund faces pressure as production declines, seeks diversification
Azerbaijan’s sovereign wealth fund, the State Oil Fund of Azerbaijan (SOFAZ), is projected to generate $5.76bn (AZN9.8bn) from profit oil and gas sales in 2025, according to the draft state budget.
Germany’s Russian LNG imports surge over 500% in 2024, via other countries
Germany talks loudly about ending Europe’s imports of Russian gas, but as a result of alternative sources of energy, it has seen imports of Russian LNG soar by 500% in 2024 y/y, worth a total of €7.32bn, delivered via other European countries.
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.
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