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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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Kazakhstan’s oil output drops 4% in May due to lower Tengiz production, remains above OPEC+ quota
Kazakhstan’s daily oil production fell by 4% in May compared to the previous month, driven largely by reduced output from the Tengiz oilfield, Reuters reported on June 2, citing an industry source familiar with the data.
Russian gas giant Gazprom halves profit in 1Q25
Russian natural gas giant Gazprom reported 1Q25 revenue of RUB2.8 trillion ($31.5bn), flat year on year, while EBITDA fell 7% y/y to RUB844bn ($9.5bn), according to the IFRS results published by the company.
BP and SOCAR finalise $430mn green energy projects in Jabrayil and Sangachal
BP and SOCAR finalise $430mn green energy projects in Jabrayil and Sangachal
Turkey’s TPAO to sign Caspian Sea gas production deal with Azerbaijan’s Socar and BP
Ankara and Baku are taking further steps to boost oil and gas production in Azerbaijan with the signing of a major agreement, Turkish Energy Minister Alparaslan Bayraktar has announced.
Kazakhstan and Air Liquide to build hydrogen plant at Pavlodar refinery
Air Liquide Munay Tech Gases LLP (ALMTG), a subsidiary of France's Air Liquide, signed an investment agreement on May 29 to construct a hydrogen production facility at Kazakhstan’s Pavlodar Oil Chemistry Refinery.
Italy signs €4bn in agreements with Kazakhstan during Meloni visit to Astana
Italy and Kazakhstan signed a series of agreements totalling €4bn during an official visit paid by Italian Prime Minister Giorgia Meloni to Astana, with the deals covering sectors such as oil and gas, renewable energy and water management.
OPEC+ to raise output by 411,000 bpd as it seeks to punish Kazakhstan and Iraq for overproduction
OPEC+ on May 30 decided to raise output by 411,000 barrels per day (bpd) in July — mirroring increases for May and June — in a move that reassured traders who had feared a sharper supply boost that could have weighed on prices.
OPEC+ "group of eight" eases voluntary cuts by 411,000 bpd
Eight members of the OPEC+ alliance that have been making voluntary production cuts will boost their output by 411,000 barrels per day in July.
OMV sells stake in UAE's Ghasha project to Lukoil
Austria’s OMV has sold its 5% stake in the Ghasha offshore oil and gas concession in the United Arab Emirates to Russian oil major Lukoil.
Gas and power infrastructure expanding across Karabakh amid green transition push
Gas and power infrastructure expanding across Karabakh amid green transition push
Russia's Inter RAO rules out switching power stations to run on coal instead of gas
Andrei Kiselev, a member of Inter RAO’s board, said the company’s strategy was in fact geared towards expanding the share of gas in its fuel mix.
Sovcomflot advises no dividends for 2024
Russian shipping company Sovcomflot has recommended that shareholders forego a dividend for last year, citing a sharp decline in annual profit.
ASX-listed Jade Gas completes first ever horizontal coal bed methane gas production wells in Mongolia
ASX-listed Jade Gas Holdings has announced the completion of the first ever horizontal coal bed methane (CBM) gas production wells in Mongolia.
Naftogaz and Poland’s ORLEN sign deal to deepen energy cooperation
Ukraine’s state energy group Naftogaz and Polish energy company ORLEN have signed a Memorandum of Understanding (MoU) to strengthen strategic cooperation across multiple areas of the energy sector.
European countries to help Ukraine stockpile US LNG for winter via Trans-Balkan route
Four European countries have agreed to support Ukraine in building up its natural gas reserves ahead of the winter heating season by enabling the supply of US liquefied natural gas (LNG) through the Trans-Balkan Corridor.
Officials of methane “super-emitter” Turkmenistan pay OSCE-backed monitoring and reporting study visit to Berlin
Representatives of state gas company Turkmengaz and the Ministry of Environmental Protection of Turkmenistan paid an OSCE-supported study visit to Berlin to discuss methane emissions monitoring and reporting.
Kazakhstan tells OPEC it will not reduce oil production
Kazakhstan has formally notified the Organisation of the Petroleum Exporting Countries (OPEC) that it does not intend to reduce its oil production, Deputy Energy Minister Alibek Zhamauov has told Russia’s Interfax news agency.
Kazakhstan weighs solo bid to build Karachaganak gas refinery as project costs rise
Kazakhstan is reportedly considering constructing a natural gas refinery at Karachaganak oil and gas field independently, after development costs proposed by Western partners surged to around $6bn.
Kazakhstan’s fuel reserves rise 62% after introduction of export restrictions aimed at energy security
Kazakhstan’s reserves of fuel and lubricants (F&L) rose by 62% in the first four months of 2025, reaching 1.01mn tonnes by May 1, up from 626,000 tonnes at the start of the year.
Over 182 bcm of gas exported via Southern Gas Corridor from Azerbaijan in seven years
More than 182 bcm of Azerbaijani natural gas have been exported through the Southern Gas Corridor over the past seven years, according to a statement by the Ministry of Energy.
Iraq’s deal with Turkmenistan to source gas via Iran stymied by US sanctions complication
The deal under which Turkmenistan is to supply Iraq with 20mn cubic metres (mcm) of gas per day via a swap arrangement with their common neighbour Iran has reportedly so far been stymied by a complication related to US sanctions on Tehran.
US LNG to flow to Ukraine via Trans-Balkan corridor of five countries under new regional deal
Operators of the national gas transmission systems in Bulgaria, Greece, Romania, Moldova and Ukraine have agreed a new scheme to supply US liquefied natural gas to Ukraine via the Trans-Balkan corridor.
Turkey’s 4M25 gas imports from Russia via TurkStream, Blue Stream pipelines calculated as up 16% y/y
Russian oil major Bashneft to pay 2024 dividend
The board of Russian regional oil major Bashneft (controlled by state oil major Rosneft) recommended dividends of RUB147.31 ($1.61) per ordinary and preferred share for 2024.
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