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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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Ukraine’s attacks on Russian oil refineries have done little damage to Russia’s economy so far
Ukraine continues to attack Russian refineries with drones but as drones only carry a 5-50kg explosive payload, rather than the 500kg carried by bombers, they can’t destroy a refinery, only damage it.
Iran, Russia’s Gazprom sign memo on gas supplies
The National Iranian Gas Company and Russia’s energy giant Gazprom have signed a strategic memorandum of understanding to bring Russian pipeline gas to Iran.
Azerbaijan reports 14.8 mcm gas loss in 1Q24
In the first quarter of 2024, Azerbaijan experienced a loss of 14.8mn cubic metres of gas in its main pipelines, an 8.6% decrease year on year.
SOCAR and Germany's VNG sign MoU
Bolivia: Lukoil sends 366,000 barrels of diesel to YPFB
Lukoil, a Russian oil company, has dispatched 366,000 barrels of diesel, equating to 50,000 tonnes, to Yacimientos Petrolíferos Fiscales Bolivianos to support Bolivia's fuel supply.
China's Wison New Energies to quit Russian projects
In what is being seen as a major blow to the trouble-hit Arctic LNG 2 project, leading Chinese engineering firm Wison New Energies has announced its own withdrawal from all ongoing Russian projects
Fossil fuel use reaches global high
A new report finds that fossil fuel energy use rose to a record high in 2023, despite efforts to combat climate change.
Global gas flaring at highest level in five years
In 2023, the volume of gas flared globally rose by 9bn cubic metres to 148 bcm, the highest level since 2019, according to a new World Bank report. This is despite efforts to curtail the practice because of climate change.
Israel emerging as source of tension in Azerbaijan’s special relationship with Turkey
War in Gaza and domestic politics in Turkey create cracks in Azerbaijani-Turkish alliance.
Rosneft forecasts 6% oil output growth out to 2031
State-run integrated energy company Rosneft has forecast mild growth of 6% over the next 7 years.
Novatek opens season for Northern Sea Route with departure of first cargo
Russia’s second largest natural gas producer, Novatek has opened the season for LNG deliveries to Asia via the Northern Sea Route.
Chinese Wison drops out of Novatek’s Arctic LNG-2
Chinese Wison New Energies, one of the main technological partners of Russian liquefied natural gas major Novatek, is ceasing operations in Russia.
Gazprom pivots to bolster oil trade amid struggling gas sales
Russia’s state-run gas giant Gazprom has its eyes set on expanding oil trading as the company looks to rebound after reporting a $7bn loss in 2023, Reuters reported on June 21 citing sources familiar with the firm’s trading.
FSUOGM: No major energy deals from SPIEF 2024
Russian oil exports to India in May hit record high
Russia’s oil exports to May climbed to a record high of approximately 2.1mn barrels per day.
Rerouting of Russia trade to add more Caucasus, Central Asia growth in 2024-2025, says Oxford Economics
Relatively small component of expanded commerce comes from evading sanctions on particular goods, analysis argues.
EU to target LNG and helium in 14th sanctions package against Russia
The package will target transshipment of Russian LNG in European ports, which will also make it more difficult to deliver LNG from Russia to Asia.
Drone strikes oil terminal in Russian Azov port
A Ukrainian drone strike caused a large fire in a fuel tank at an oil terminal in the Azov port in the Russian Rostov-on-Don region on June 18.
EU faces another gas conundrum as contract for Russian gas through Ukraine nears expiration
EU member countries and companies have approached Caspian Sea gas producer Azerbaijan with a scheme designed to cover the loss of Russian gas supplies reaching Europe through Gazprom’s pipeline system transiting Ukraine.
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