FSUOGM - Former Soviet Union Oil & Gas

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Oil & Gas

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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.

FSUOGM is a fully digital publication and can be read via PDF, PageSuite or via our NewsBase App.

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Russia's dependence on trade with Asia rose sharply in 2023, US shadow fleet sanctions begin to bite

14 February 2024

Russia's dependence on trade with Asia rose sharply in 2023, while its business with European markets plunged and US sanctions on Russia’s oil shadow fleet of oil tankers began to bite.

Poland pledges oil supply if Germany's Schwedt refinery nationalised

14 February 2024

Poland has committed to continue delivering oil to the Schwedt oil refinery in Germant in the event that Berlin nationalises the majority Rosneft-owned plant.

Putin avoids answering whether Russia has evidence that US took out Nord Stream

13 February 2024

Russian President Vladimir Putin once more accused the US of blowing up the Nord Stream 1 and 2 pipelines in autumn 2022, but did not say whether Moscow had evidence to support this claim.

Gazprom Export launches arbitration against Dutch firm Gasunie

13 February 2024

Gazprom Export has filed a lawsuit against Dutch firm Gasunie at a St Petersburg arbitration tribunal, court documents show, but details of the case remain unclear.

Austria mulls how to break free from Russian gas

13 February 2024

Austrian Energy Minister Leonore Gewessler said the government would look to end national gas company OMV’s long-term gas supply deal with Gazprom.

Russia extends permit for Yamal LNG to supply Germany’s SEFE until 2040

13 February 2024

Russia has extended a permit allowing its Yamal LNG export terminal to continue supplying LNG to German state-run gas trader Securing Energy for Europe (SEFE) until the end of 2040, a government document published on February 9 revealed.

Turkmen gas production dips in 2023

13 February 2024

Turkmenistan produced more than 80bn cubic metres of natural gas last year, down from 82.7 bcm in 2022.

Ukraine hits two oil refineries in south Russia

12 February 2024

Ukrainian drones struck two oil refineries in the southern Russian region of Krasnodar on February 9, resulting in a large blaze at the Ilsky refinery.

Azerbaijan's gas boom amid COP29 spotlight raises questions on climate commitments

12 February 2024

In the wake of COP28's focus on transitioning from fossil fuels, COP29 is poised to take place in Azerbaijan, amidst a gas production boom. The country plans to boost its gas output by 35% over the next decade.

BP-Azerbaijan reports mixed outcomes in 2023 production figures from Shah Deniz and ACG fields

12 February 2024

BP-Azerbaijan reported a 4% increase in gas production from the Shah Deniz field in the Azerbaijani sector of the Caspian Sea for 2023, reaching a total of 26 bcm, alongside a slight decrease of 2.8% in condensate production to just over 4mn tonnes.

BTC pipeline's 2023 oil flow stabilises at 30mn tonnes, expenses surge by 30.7%

12 February 2024

The Baku-Tbilisi-Ceyhan (BTC) pipeline, a cornerstone in the transport of oil and condensate from the Caspian region to the global markets, maintained its throughput at 30mn tonnes (approx. 227mn barrels) in 2023, mirroring its 2022 performance.

SOCAR says drilling increased and gas exports surged in 2023

12 February 2024

Drilling activities slightly increased, with the company completing 73,987 metres of drilling, representing a 1.2% rise over the previous year’s total of 73,084 metres and continuing an upward trend from an 18.6% increase in 2022 compared to 2021.

Oil and gas companies to invest over $1 trillion in the next decade expanding production

12 February 2024

A report from climate campaign group Global Witness reveals that the fossil fuel sector is anticipated to allocate more than $1 trillion worldwide over the next decade for the expansion of natural gas production.

Russian gas major Novatek to pay $2.6bn in dividends for 2023

12 February 2024

The board of Russia’s second-largest gas producer Novatek recommended the shareholders to pay the final total dividend of RUB134bn ($1.4bn) for 2023, in addition to the RUB105bn ($1.1bn) interim dividend for 1H23,

More figures confirm dramatic uptick in imports of Russian gas to Czechia

12 February 2024

Up to 62% of imported gas to Czechia has originated in Russia, preliminary figures by Net4Gas pipeline operator show.

Sanctions halt Russia’s Arctic LNG 2 shipments by blocking delivery of LNG tankers

11 February 2024

Russian gas producer Novatek’s Arctic LNG 2 project has been forced to push back its first cargo delivery until March at the earliest due to US sanctions blocking the delivery of LNG vessels.

China's balancing of Russian and Central Asian gas

9 February 2024

China is relying increasingly on Russian pipelined natural gas, as the Power of Siberia ramps up to its full capacity of 38bn cubic metres per year, potentially as early as 2025

Naftogaz to expand gas production in 2024 with new wells, better technology

9 February 2024

Naftogaz Group's CEO, Oleksiy Chernyshov, said in a press release on February 9 the company will boost domestic gas production in 2024 and start operating two new wells.

Germany mulls nationalisation of Rosneft assets

9 February 2024

Germany is considering the nationalisation of Rosneft's assets within its borders, the Russian oil giant’s lawyers said on February 8.

Russia's oil revenues in January higher than from before the war

8 February 2024

Russia’s budget earned more money from oil taxes in January 2024 than it did in January 2023, Ministry of Finance (MinFin) reported on February 7.

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