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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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Azerbaijan gas output rises 7.4% in January as oil transport declines, MOL boosts production share
Azerbaijan produced 4.2742 bcm of natural gas in January 2026, up 7.4% year-on-year, according to the State Statistics Committee. Of this volume, 3.382 bcm accounted for marketable gas, which increased 8.7% compared with January 2025.
Shared risks give Iran pause from closing Hormuz
Iran is considering awarding Russia the development of a major shared oilfield, Oil Minister Mohsen Paknejad said, as the two countries step up co-operation in the energy sector.
Iran says Russia gas import deal to be signed soon
Iran’s Oil Minister Mohsen Paknejad said a contract to import pipeline gas from Russia would be signed soon after the dispute over the two outstanding clauses was resolved.
Former Russian Halliburton buys new assets
European Commission clears SOCAR’s acquisition of 99.82% stake in Italy’s Italiana Petroli
The European Commission has approved the State Oil Company of the Azerbaijan Republic (SOCAR)’s acquisition of a 99.82% stake in Italy’s Italiana Petroli (IP) from API Holding, concluding that the transaction does not raise competition concerns.
Uzbekistan signs several big business deals during Mirziyoyev's Board of Peace trip to US
Gulf Oil says it will invest $150mn in creating network of at least 100 gasoline stations in Central Asian country.
Russian oil drilling down 3.4% in 2025
Russian coal exports to India jump 63% in January
Russian coking coal supplies recover in India and China amid disruptions in Indonesian exports
Canadian minnow Condor Energies discovers previously missed natural gas reservoir at Uzbek legacy field
Canadian minnow Condor Energies (TSX: CDR) has discovered a previously missed natural gas reservoir at a legacy field in Uzbekistan.
Kazakhstan to lift annual oil refining capacity to 40mn tonnes by 2033
Kazakhstan has brought forward plans to expand its oil refining industry. It aims to lift annual processing capacity to 40mn tonnes by 2033 — seven years ahead of the previous 2040 target.
China ramps up imports of Russian crude in February
Independent Chineses refineries reportedly ramp up purchases of cheap Russian oil snubbed by India
Naftogaz secures €85mn grant from EBRD to finance gas imports
Ukraine’s state energy company Naftogaz has signed an €85mn grant agreement with the European Bank for Reconstruction and Development to finance imports of natural gas, as Kyiv seeks to secure stable supplies during the winter heating season.
Kazakhstan identifies more than 20 promising hydrocarbon sites in Aral Basin
More than 20 promising hydrocarbon sites in the Aral Basin in Kazakhstan have been identified by a state geological exploration programme, according to a reported briefing from Kanat Yerubaev, acting chairman of the Geology Committee.
Italy leads Azerbaijan’s oil exports in January 2026
Azerbaijan’s foreign trade reaches $48.9bn in 2025, surplus narrows to $146mn
Azerbaijan’s legal and natural persons conducted trade operations with partners in 180 countries in 2025, exporting goods to 128 countries and importing from 173 countries.
Kazakhstan’s state-run oil producer KMG to channel $900mn into exploration and drilling by 2029
Saudi Arabia’s Midad agrees terms for Lukoil portfolio
Jeddah-based Midad Energy has signed a deal to acquire Lukoil’s sanctioned global assets, while Chevron negotiates improved terms to replace the Russian firm in Iraq
Druzhba oil flow sees further disruptions
Oil flows to Slovakia through the pipeline effectively stopped in early February, after volumes had already fallen sharply in January.
How dangerous are Europe's low gas storage levels
Europe is heading into the final stretch of the 2025-26 winter with gas storage at unusually low levels and prices elevated, prompting warnings from Gazprom but also highlighting how weather, LNG flows and policy will shape market risks.
Caspian Sunrise reports record oil flow in west Kazakhstan
UK oil explorer Caspian Sunrise has recorded an oil flow from its West Shalva licence area in Kazakhstan’s Mangystau region.
TotalEnergies warns EU sanctions could halt Yamal LNG exports
French energy major TotalEnergies has said it may fully halt exports from Russia’s Yamal LNG project due to legal uncertainty surrounding the EU’s forthcoming ban on Russian LNG.
BP sheds 10% interest in solar project to power Azerbaijan's Sangachal oil terminal
The solar project will power the Sangachal terminal, freeing up more gas for supply to Europe.
KMG ramps up production by 10% in 2025 on Tengiz growth
KMG was also instructed by Kazakhstan’s president to ramp up exploration work to replenish the country’s resource base.
Russia ramps up oil sales to China while cutting Indian shipments sharply
Russia boosted seaborne oil exports to China in January while shipments to India fell sharply, highlighting deepening structural pressures on Moscow’s energy trade as buyers shift supply patterns.
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