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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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Foreign backers of Novatek’s Arctic LNG-2 said to declare force majeure
The foreign shareholders and backers of the major Arctic LNG-2 project of Russian natural gas major Novatek have declared force majeure on the participation in the project, according to Kommersant daily citing unnamed government officials.
Turkmenistan reportedly makes further attempt to secure Adnoc participation in developing Galkynysh gas fields.
Lukoil-linked Litasco extended loans in UK
Russia seizes Austria OMV’s shares in gas field
The 24.99% stake of Austrian oil and gas company OMV in the West Siberian Yuzhno-Russkoye gas field was seized by Russian authorities and will be transferred to newly established local companies under a special presidential decree.
Georgia plans to import 3 bcm of gas from Azerbaijan in 2024
Georgia plans to import 3.017 bcm of gas from Azerbaijan in 2024 according to the website of the Legislative Bulletin of Georgia. Georgia's natural gas balance for 2024 is 3.231 bcm, 99.6% of which will be covered by imports.
Iran’s gas import from Turkmenistan disrupted
Iran’s gas imports from Turkmenistan have been halted in a blow to the country’s fragile supply that falls in the winter over surging demand.
Growth of non-oil and gas industrial production in Azerbaijan in 2024 forecast to be 8.5%
Azerbaijan appoints former oil executive as head of climate talks
Choice of Mukhtar Babayev, a former SOCAR executive, follows the contentious leadership of Sultan Ahmed al-Jaber from the UAE during last month’s COP28.
FSUOGM: Novatek shares tumble after reports of force majeure delivery problems from Arctic LNG-2 in 2024
Belarus’ state-owned oil company Belorusneft lifted a record breaking 1.87mn tonnes of oil in 2023
The Belarusian company noted it had produced 201,000 tonnes of oil from wells drilled in 2023, which is an extraordinary high result.
Russia’s Gazprom sets gas supply record to China through Power of Siberia pipeline
Although the company did not provide a specific figure for the record, it announced that gas exports to China through the pipeline had surged to 22.7bn cubic metres in 2023.
Hungary's MOL announces gas production start at Kazakh field
Global shipping's chokepoints
With more and more shipping companies extending full or partial closures of Red Sea shipping routes due to attacks by Yemeni rebels, global trade could be seriously affected, reports Statista.
Russia is denying Iran’s access to its Caspian Sea gas field, says Iranian union chief
An Iranian trade union boss has accused Russia of blocking Iran’s access to a gas field in the Caspian Sea for extraction.
BP discusses long-term management of Azeri-Chirag-Gunashli fields with Azerbaijan
BP is engaging with the Azerbaijani government on the effective stewardship of the Azeri-Chirag-Gunashli (ACG) field block until 2049, as per Bakhtiyar Aslanbeyli, BP's vice president for communications and external relations in the Caspian Region.
Azerbaijan ready to buy Lukoil’s Bulgarian refinery, ambassador says
Novatek shares tumble after reports of force majeure delivery problems from Arctic LNG-2 in 2024
Russia’s biggest LNG producer Novatek warned customers that it would not be able to meet all its delivery obligations in 2024 due to a force majeure caused by sanctions imposed on the development of its Arctic LNG-2 project by the US.
Global maritime chokepoints are clogging up
Yemen's Houthi rebels are intensifying their attacks on vessels in the Red Sea, with three commercial ships and a US military unit targeted in the middle of December. All the shipping chokepoints are becoming fouled up.
Azerbaijan has reduced imports of AI-92 gasoline by 67% over 10 months
In January-October 2023, Azerbaijan imported 64,976.68 tonnes of AI-92 motor gasoline (67.3% lower year on year), 69,430.84 tonnes of Premium Euro-95 (24.7% lower y/y) and Super Euro-98, 1,765.03 tonnes (an increase of 30.3% y/y).
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