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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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SOCAR acquires Italiana Petroli
Within the same forum, the State Oil Company of Azerbaijan (SOCAR) signed an agreement to acquire 99.82% of Italian energy company Italiana Petroli (IP) from API Holding.
Uzbekistan advances major US deals across finance, mining and technology
Japan’s MHI, Turkey’s Gap Insaat set to build major urea plant in Turkmenistan
Turkmenistan is reportedly to sign a contract for the design and construction of a 1.155mn tonne/year urea (carbamide) plant, with the facility to be delivered by Japan’s Mitsubishi Heavy Industries (MHI) and Turkey’s Gap Insaat.
Cyprus-based Prato Golf takes over Beiken Energy Ukraine, names new supervisory board
Beiken Energy Ukraine LLC, a leading private oil and gas services company, announced a change of ownership, with Cyprus-based Prato Golf Investments LTD becoming its new owner and appointing a supervisory board to strengthen corporate governance.
Naftogaz secures $2.5bn to buy gas for winter amid war risks
Ukraine’s state-owned energy firm Naftogaz said it had secured $2.5bn with international partners to purchase gas supplies ahead of the winter heating season, as the country braces for renewed Russian attacks on its energy infrastructure.
Serbia to sign new gas supply deal with Russia in October
Serbia, which imported about 3bn cubic metres of Russian gas in 2024, remains among the most energy-dependent countries in Europe.
COMMENT: Uncertainty and geopolitics plague Russia’s negotiations with China on gas supply deals
China is now the only potential buyer of Russian Arctic gas and the only customer with the capacity to absorb significant amounts of gas from the Yamal Peninsula, home to some of the country’s largest reserves.
Azerbaijan to gift oil tanker to Turkmenistan
Azerbaijan is to gift an 8,000-tonne oil tanker to Turkmenistan.
Uzbekistan's gas exports up 24% y/y in 8M25 despite declining domestic output
Uzbekistan increased its natural gas exports by nearly a quarter while recording lower imports in the first eight months of 2025, according to data from the state’s statistics agency.
World's leading producers continue output plans above Paris deal compatibility
Many of the world’s major fossil fuel producers plan oil, gas and coal extraction far beyond levels compatible with the Paris Agreement.
EU eyes full ban on deals with Russia's Rosneft and Gazprom Neft
The EU plans to impose a full ban on transactions with Russian state oil majors Rosneft and Gazprom Neft as part of its planned 19th package of sanctions.
Russian seaborne oil product exports slump 18% in early September
Russia’s seaborne oil product exports fell 18% year on year in the first half of September as unplanned refinery and transport outages disrupted supplies and pressured freight rates.
Russian oil majors refuse to share data for AI: Vygon
Russian oil and gas companies have refused to create a shared generative AI platform because none is willing to pool confidential data needed to train such systems.
Kazakhstan strikes deal with US tech firm on first SAF plant
Kazakhstan’s state oil and gas company KMG and US technology firm LanzaJet have signed a framework agreement to move forward with plans to build the country’s first plant for sustainable aviation fuel.
China cuts Russian LNG imports by fifth in Jan-Aug
LNG sanctions on Russia needs EU unanimous approval
Oil output from Azerbaijan’s ACG block reaches 613mn tonnes, including 1.4mn tonnes from ACE platform
Estonia approves full ban on Russian gas imports
“Currently it is permitted to buy and import Russian LNG provided it is not used in the distribution network. After the amendment enters into force, the ban will also apply to LNG imported outside the network,” Tsahkna explained.
One of Russia's largest independent refineries passes to unknown owner
The filings show that on September 15, the refinery’s entire charter capital passed to a Moscow-based company called Orion. The plant was previously controlled by entrepreneur Yury Shamara.
ExxonMobil rules out return to Sakhalin
CEO Darren Woods told the newspaper the discussions concern solely the handover of the US major’s stake and do not signal a return to the country.
Novatek redirects oil shipments to Novorossiysk after Ust-Luga drone strike
Following the strike on its Ust-Luga facility in Russia’s Leningrad region, Novatek began reviewing its logistics.
Washington reportedly refusing to apply sanctions waiver to Iraq-Turkmenistan-Iran gas supply deal
Washington has reportedly rejected Iraq’s request for a sanctions waiver that would allow it to import gas via pipeline under a swap arrangement involving Turkmenistan and Iran.
Democratic Senators push Trump to ramp up targeted sanctions on Russian LNG
Calls are mounting by Democratic senators for US President Donald Trump to increase targeted sanctions on Russia’s LNG sector.
EU plans to move forward Russian LNG import ban in new sanctions package
The EU is considering moving ahead one year its ban on Russian LNG imports to come into force at the start of 2027.
Ukraine gas reserves exceed last year but fall short of winter target
Ukraine has built up 12.055bn cubic metres (bcm) of natural gas in storage ahead of the 2025/26 heating season, surpassing last year’s levels but missing its 13.2 bcm target.
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