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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 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).
The cost of gas production at SOCAR fields in 2022 increased by 10%
The cost of gas production at the fields of SOCAR (State Oil Company of Azerbaijan) in 2022, compared to 2021, increased by 10.35% to AZN67.57 ($39.74) per 1,000 cubic metres according to the company's annual report for 2022.
Rail deliveries boost Russian oil shipments to China in December
Exports of Russian ESPO oil from the port of Kozmino rose to record-high 0.925mn barrels per day so far in December 2023, with 85% of this volume accounting for deliveries to China.
Kazakh state oil producer's subsidiary to ramp up polypropylene production to 500,000 tonnes in 2024
Azerbaijan increased gas exports by 9% in January-November
In 2023, Azerbaijan witnessed a notable increase in its natural gas production, reaching a total of 44 bcm in the January-November period and marking a 3.6% rise on the previous year, as reported by the Ministry of Energy.
COP28: vague and voluntary promises
To say that COP28 in Dubai has been eagerly awaited would be an understatement.
IMF forecasts SOFAZ assets will reach $54.5bn in 2029
Azerbaijan's income from the activities of main pipelines exceeded $1.5bn for 9 months
Azerbaijan's income from the activities of main pipelines in January-September 2023 amounted to AZN2.705bn ($1.59bn), which is 2.9% higher year on year, according to the latest governmental report.
BP spuds first well at new ACG platform
The addition of ACE, the seventh platform at ACG, will add 100,000 barrels per day of oil to the project’s production, providing a temporary bump to output levels at the now mature fields.
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