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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 moves to boost energy resilience and cut green tariff debt
Ukraine’s government has approved new measures to revitalise the country’s war-strained energy sector, including the simplification of procedures for restoring gas transportation infrastructure and power lines.
Naftogaz signs first deal with SOCAR for Azerbaijani gas via Trans-Balkan route
Ukraine’s state-owned energy company Naftogaz has signed its first agreement with SOCAR Energy Ukraine, a subsidiary of Azerbaijan’s state oil company SOCAR, to purchase Azerbaijani natural gas.
ASX-listed TMK Energy commences drilling on seventh Lucky Fox well at Gurvantes XXXV coal seam gas project in Mongolia
ASX-listed TMK Energy on July 28 announced that drilling has commenced on a seventh well, the Lucky Fox - 07 (LF-07) pilot production well, at the Gurvantes XXXV coal seam gas (CSG) project in Mongolia.
Uzbekistan brings SOCAR on board as upstream partner
Uzbekistan has signed a PSA with Azerbaijan’s state oil company SOCAR for joint exploration and development of oil and gas resources in the former country’s Ustyurt plateau region.
Fitch affirms Turkmenistan's Long-Term Foreign-Currency Issuer Default Rating at 'BB-' with a Stable Outlook
Fitch Ratings on July 28 affirmed Turkmenistan's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BB-' with a Stable Outlook.
Russian diesel exports yet to feel force of latest EU sanctions
The EU's 18th sanctions package has so far had a limited impact on Russian diesel exports, with freight rates remaining broadly stable and prices correcting only modestly.
Gutseriev-owned group eyes new oil block in Orenburg
ForteInvest, part of Russian investment firm Safmar Group founded by Russian businessman Mikhail Gutseriev, is seeking to consolidate its oil portfolio by acquiring a new block in the Orenburg region.
Rosneft invests $3.3bn in APG utilisation in 12 years
Rosneft has invested more than RUB303bn ($3.3bn) between 2013 and 2024 in projects to utilise associated petroleum gas extracted at its oilfields.
Russia restores gas supply to Armenia after brief halt
Russian natural gas supplies to Armenia resumed at 13:40 on July 26 after a brief suspension caused by emergency maintenance on a key pipeline segment in Georgia.
Ukraine launches gas imports from Azerbaijan
Ukraine has launched imports of natural gas from Azerbaijan for the first time, with deliveries transiting through the Trans-Balkan pipeline corridor.
Russian LPG exports prove robust despite EU restrictions
China’s role as a key buyer is growing, and current estimates may understate the actual volume.
Russia expands ban on gasoline exports
The move is aimed at stabilising the domestic fuel market during the peak summer demand and ongoing agricultural fieldwork.
Kazakhstan’s major oil refineries process 8.83mn tonnes in 1H25
Kazakhstan’s three key oil refineries processed a total of 8.83mn tonnes of crude oil in the first half of 2025, representing an annual increase of 685,000 tonnes, Kazinform reported on July 24.
Uzbekistan’s 1H25 gas exports climb 51% y/y to $355mn
Uzbekistan’s natural gas exports rose 50.5% y/y in the first half of 2025 to $354.9mn, according to the state's statistical agency.
PrivatBank issues record $116mn loan to Naftogaz to boost winter gas reserves
Ukraine’s state-owned PrivatBank has issued a UAH4.7bn ($116mn) loan to Naftogaz Group, marking the largest energy-sector loan provided by the lender since the start of the war and the first such loan extended to Naftogaz.
Uzbekistan to sign oil exploration deal with Azerbaijan's Socar for Ustyurt plateau
Uzbekistan is set to sign a production-sharing agreement with the State Oil Company of the Azerbaijan Republic (Socar) for joint oil exploration and production on Ustyurt plateau.
Foreign tankers barred from Russian Black Sea ports under new FSB rule, disrupting Kazakh oil exports
Foreign oil tankers are reportedly being temporarily barred from loading at Russia’s main Black Sea ports under new regulations signed by President Vladimir Putin.
KazMunayGas shares surge over 25% despite lack of clear market triggers
Shares of KazMunayGas (KMG), Kazakhstan’s state-run oil and gas company, have risen more than 25% over the past two months, despite the absence of significant news or clear catalysts, Kursiv reported on July 23,
Uzbekistan approves energy cooperation roadmap with sanctioned Russian oil giant Gazprom Neft
Uzbekistan’s Cabinet of Ministers has approved a roadmap to strengthen cooperation with Russian state oil firm Gazprom Neft, despite the Western sanctions that still apply to the company and its leadership.
Ukraine steps up efforts to recover $6.9bn from Gazprom through international arbitration rulings
Ukraine is intensifying efforts to recover $6.9bn from Russia’s Gazprom, following a series of favourable international arbitration awards.
Russia’s oil and gas revenues to take 37% hit
Russian state oil and gas revenue in June 2025 will decline by about 37% year on year to RUB680bn ($8.7bn) due to cheaper oil and a stronger ruble.
Azerbaijan’s Socar reportedly considering sale of Aegean Sea container port in Turkey
Azerbaijan’s national oil company Socar is mulling a sale of its port unit in Turkey, Bloomberg reported on July 22.
Kazakhstan, Uzbekistan dismantle cross-border fuel smuggling tunnel
Authorities in Kazakhstan and Uzbekistan have dismantled an underground tunnel used to smuggle fuels and lubricants across their shared border, KazTAG reported on July 22, citing the Financial Monitoring Agency (AFM) of Kazakhstan.
Kazakhstan aims to boost fuel exports to China, India and Central Asia
Kazakhstan plans to increase its fuel exports to China, India and Central Asia as part of a long-term strategy to expand its oil refining industry, Reuters reported on July 22, citing the Ministry of Energy.
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