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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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Turkey signs LNG deal with US supermajor ExxonMobil placing question mark over Russian gas supplies
Ankara has ambition to make country an energy supply powerhouse based on re-exports.
Russian Tatneft oil major grows 57% in 1Q24 under RAS
Russian regional oil major Tatneft posted 57% year-on-year growth in Russian Accounting Standard revenues to RUB382bn ($4.2bn) in 1Q24, the company announced.
Russia to lift petrol exports ban as market stabilises
Russia could lift the ban on exports of petroleum products for a period of two months in May-June 2024, according to a report by Kommersant daily citing unnamed official sources.
Russian geo exploration agency asks for $274mn support
Russian state geological exploration agency Rosgeologiya is asking the government for RUB25bn ($274mn) of state support in subsidies and recapitalisation, as well as a special status for state-ordered geo exploration works.
EU proposes sanctions on trans-shipment of Russian LNG
The European Union is considering placing its first sanctions on Russian LNG.
Russian oil and gas sector sees 40,000 workers shortage
Labour shortages have also affected Russia’s oil and gas sector, reaching 40,000 people, Bloomberg estimates. Since the beginning of 2024, the number of vacancies in the sector has grown by 25%.
EU LNG imports down 8% in January-April: GIE
EU LNG imports were down 8% year on year in January to April at 40.8bn cubic metres, coinciding with a climb in Russian pipeline gas supplies.
Azerbaijan seeks EU long-term guarantees, financial support for gas projects
Azerbaijan is seeking long-term guarantees and available financial support from the EU to invest in its gas production and expand exports to the bloc, its president Ilham Aliyev said in late April.
Kazakhstan files plan with OPEC to compensate for missing oil quotas
Kazakhstan has sent a plan to OPEC on how it aims to compensate for producing more oil than its OPEC+ production quota in the first four months of the year.
Indian imports of Russian oil increase in April as Ukraine strikes Moscow’s refineries
Russia supplied 1.96mn barrels per day(bpd) of crude oil to Indian refineries in April 2024, which is almost 19% more than the amount supplied in March 2024
Kazakhstan approves terms for joint gas projects with Qatar
Kazakhstan’s government announced on May 3 that it had approved terms and conditions for the joint development of four gas projects by national gas firm QazaqGaz and Qatar’s UCC Holding.
Kazakhstan to transit 35 bcm per year of Russian gas to China
Kazakhstan plans to transit 35bn cubic metres per year of Russian gas to China in the future, putting volumes on a par with Russian deliveries to China via the Power of Siberia pipeline.
Sweden says no need for international probe into Nord Stream blasts
Sweden has said there is no need for an international investigation into the explosions that ruptured the Nord Stream 1 and 2 gas pipelines in September 2022.
Kazakhstan presents compensation plan for exceeding crude production under OPEC+ agreement
The price cap on Russian oil is becoming increasingly unenforceable, says Mutual Insurance Club
The price cap on Russian oil is becoming increasingly unenforceable, said the International Group of P&I Clubs, or so-called Mutual Insurance Clubs, according to reports on May 3.
Russian oil dinosaur Surgut posts $3bn profit in 1Q24
Russian oil major Surgutneftegaz (SurgutNG or Surgut) posted a 1Q24 RAS revenue increase of 57% year on year to RUB650bn, while net profit declined by 30% y/y to RUB269bn ($2.9bn).
Russian oil deliveries to North Korea break UN sanctions
The US has called for new sanctions on Russia, which has exceed United Nations Security Council (UNSC) sanctions limits on deliveries of oil to North Korea, Reuters reported on May 2.
Gazprom hit with first annual loss in over 20 years
Gazprom, the state gas exporter that once served as Russia’s biggest cash flow, suffered its first annual loss in over two decades, reflecting the collapse in its revenues on the European market.
Ukraine to boost winter gas storage for Europe by 60%, says Naftogaz
The CEO of Ukraine's state energy giant Naftogaz has revealed ambitious plans to increase winter gas storage for foreign companies and traders by 60%, reaching approximately 4 bcm.
Russian gas pipe flow to Europe in April down 6% m/m but up 10.3% y/y
Russian pipeline gas flow to Europe in April was down 6% month on month, but up 10.3% year on year, as buyers opted for more supply from Gazprom because it is currently cheaper than LNG.
Russian firm hunts for oil in South Ossetia
The government of Georgia’s breakaway republic of South Ossetia has reached a deal with Russian oil firm Rusneftegaz on exploring for oil in the region.
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