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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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Russia targets Ukrainian underground storage capacity for the first time
Russia has regularly targeted civilian infrastructure in Ukraine over the past two years, including energy facilities.
Rosneft resumes and extends share buyback programme
Russia’s largest oil producer Rosneft announced on April 1 that its board had approved the resumption and extension of a share buyback programme, which will now run until the end of 2026.
KMG-CNPC fuel JV sets out goals
KC Energy, a joint venture established by Kazakhstan’s national oil company KazMunayGas and China’s CNPC, aims to develop and improve the Kazakh fuel market.
Murmansk LNG not to receive NWF funding
Novatek’s Murmansk LNG and other new fuel and energy projects will not receive funding from Russia’s National Wealth Fund.
Moldova to deliver US LNG to consumers for first time
Moldova’s domestic gas supplier Energocom has said it will deliver test volumes of US LNG imported via a Greek regasification terminal on April 1-2 for the first time.
Russian oil dinosaur SurgutNG posts $14.4bn RAS profit in 2023
Russian oil company SurgutNefteGaz (SurgutNG) posted a 5% y/y decline in revenue to RUB2.22 trillion in 2023 under Russian Accounting Standards (RAS), but still posted 22-fold y/y jump in net profit to RUB1.33 trillion due to RUB846bn currency.
Kazakhstan extends preferential oil transit terms to Russia
Kazakhstan has extended preferential terms for Russian oil pipeline transits through the Central Asian country, while its own producers have to pay higher fees.
Kazakh oil falls out of favour in South Korea
Kazakh CPC Blend crude has fallen out of favour in South Korea, Asia’s third-largest oil importer, with the country taking zero cargoes in February.
Launch of common EEU fuel market to be delayed until 2027
The creation of a single market for fuel within the Russian-led Eurasian Economic Union will not happen until at least 2027.
Kyrgyzstan seeks more Russian gas
FSUOGM: Gazprom buys Shell's stake in Sakhalin LNG
Ukrnafta commences drilling of new exploration well amid production growth goals
Ukrnafta, Ukraine's leading oil company, has embarked on drilling operations for a new exploration well in a western Ukrainian field as part of its strategic efforts to bolster oil and gas production.
Russia sells Urals oil to India above Western price cap amid payment delays and logistics challenges
Despite facing payment delays and logistical hurdles, Russia continues to sell Urals oil to India at prices well above the Western-imposed price cap.
Russian diesel tankers stranded off Brazil's coast amid sanctions-induced bottlenecks
Tankers laden with millions of barrels of Russian diesel find themselves adrift along Brazil's coastline, highlighting the latest snag in Moscow's energy exports amidst tightening Western sanctions.
Kazakhstan reportedly engaged in negotiations with Russia on gas supplies to northern regions
SOCAR methanol plant doubled production in January-February 2024, exports increased by 10%
Russia has trouble with oil payments though Chinese, Turkish, UAE banks
Russian oil firms face delays of up to several months to be paid for crude oil and fuel shipments as banks in China, Turkey and the United Arab Emirates (UAE) are becoming more cautious of the US secondary sanctions.
Gazprom buys Shell's stake in Sakhalin LNG
A subsidiary of Russia’s national gas company Gazprom has acquired Shell’s former 27.5% interest in the Sakhalin-2 LNG project in the Far East for $1.1bn, according to a government order.
Ukrnafta reports increase in oil and gas production
Ukrnafta, Ukraine's largest oil and gas producer, announced on March 26 that it had achieved a notable increase in production for the month of February 2024 compared to the same period last year.
Uzbekistan MTO: plastics in the steppe
Russia, Ukraine trade attacks on energy infrastructure
While Russia launches missile after missile at Ukrainian energy infrastructure, Ukraine is maintaining its drone campaign against Russian refineries.
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