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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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EU could wind down all Russian gas by 2027
EU said to prepare a sanction plan to phase out Russian gas imports by 2027
Russia completes first verified emissions trades as part of Sakhalin trial
Russia has completed its first verified trade of greenhouse gas emission quota units under its trial for a carbon trading market in the Far Eastern region of Sakhalin.
Novatek slumps to RAS lost in Q1
Russia’s largest LNG producer Novatek reported a net loss of RUB35.3bn ($382mn) in the first quarter of this year under Russian accounting standards.
Kazakhstan slaps $119mn in environmental fines on major oil producers
Kazakhstan has imposed more than KZT61.1bn ($119mn) in environmental fines on four major oil producers between 2022 and 2024.
Gazprom returns to profit in 2024 after first loss in decades in previous year
Russia’s state gas exporter Gazprom swung back to profit in 2024, the year after suffering its worst loss in decades in the previous year, on the back of higher export volumes and revenues.
BLOG: The EU’s glacial push to eliminate Russian LNG
The EU is continuing to grapple with the complex challenge of eliminating its remaining oil and gas imports from Russia, as the European Commission prepares to unveil a roadmap this week outlining how to achieve that goal, hopefully by 2027.
MACRO ADVISORY: Kazakhstan’s high stakes oil gambit
Kazakhstan’s economy is estimated to have grown by more than 5.5% in the first quarter. Growth in February alone topped 7.5% y/y. The reason for the strong growth is the surge in oil production at the giant Tengiz oil field.
Trump said to be considering Gazprom sanctions
The US officials have prepared new sanctions against Russia, which include more banking and energy restrictions, with some serious measures such as sanctions on state-controlled energy giant Gazprom.
OPEC+ members agree to add to production levels
A core group within the OPEC+ alliance has pressed ahead with plans to increase crude oil production for a third consecutive month
After Samarkand summit, Europe’s quest for Central Asian resources meets reality
Playing long game for rare earths.
Chisinau moves to appoint gas supplier for Transnistria under new energy bill
The Moldovan parliament adopted in first reading a bill on April 30 that would allow the government, through the National Agency for Energy Regulation (ANRE), to designate the natural gas supplier for the Transnistrian region.
BP reports $2.2bn investment and key milestones in Shah Deniz, ACG and export pipeline operations in Q1 2025
BP reported continued strong performance across its key assets in Azerbaijan in the first quarter of 2025. Extensive capital and operational expenditure aided projects at Shah Deniz, ACG and the region’s strategic oil and gas export infrastructure.
Ukrainian gas prices exceed European levels for first time in a year
Natural gas prices in Ukraine have surpassed European benchmarks for the first time in nearly a year, driven by steady domestic demand and constrained supply.
Naftogaz profit jumps 64% in 2024 as all business segments grow
Ukraine’s state-owned energy company Naftogaz Group reported a net consolidated profit of nearly UAH38bn ($913mn) in 2024, marking a 64% increase compared to the previous year.
Spain’s Tubacex to launch seamless pipe manufacturing plant in Kazakhstan
Spanish industrial group Tubacex is set to establish the first seamless pipe manufacturing plant in Central Asia, with the facility to be built in Kazakhstan.
Severe winter weather drives up Turkey’s natural gas imports by 17% y/y in February
Severe winter weather sent Turkey’s natural gas imports up by 16.6% y/y in February to 6.43bn cubic metres, according to data from state-owned pipeline operator BOTAS.
Ukraine faces costly gas import season as energy shortfalls persist, says NBU
Ukraine will need to spend up to $2.9bn on natural gas imports in 2025 to compensate for insufficient domestic output and war-damaged infrastructure.
Czech Litvinov refinery begins processing TAL oil
The Litvínov oil refinery in the Czech Republic has begun processing crude oil imported via the Transalpine Pipeline (TAL) under the TAL-PLUS project.
Rubio denies reports of US planning to lift Nord Stream 2 sanctions
US Secretary of State Marco Rubio denied reports in a statement on X on April 24 that the White House is discussing lifting sanctions on the operator of Russia's Nord Stream 2 gas pipeline.
OPEC+'s rise in oil output could trigger sharp fall in oil prices in 2027-28: Alfa Bank
OPEC+'s plans to raise oil production amid the US’ new protectionist trade policies could lead to a sharp decline in Brent crude prices in 2027-2028.
Gazprom Neft strikes oil in Khanty-Mansiysk
Russian oil producer Gazprom Neft has discovered a major oil deposit at the mature Lugovoye field in the Khanty-Mansiysk region.
Gazprom ready to enter talks with future US owner of Ukraine transit pipelines
Russia’s state-owned Gazprom is prepared to enter negotiations with the future owner of the pipeline network connecting Russia to Europe if the US assumes control over it.
EU imports of Russian LNG slump 35% in April
The EU’s imports of Russian LNG fell by 35% year on year during the period from April 1-23, dropping from 1.7bn cubic metres to 1.14 bcm.
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