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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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Rising fuel costs from Middle East conflict raise Georgian inflation risk and dim rate cut prospects
Russia’s oil exports to India jump 27% in March
Russia’s oil exports to India rose by 27% month-on-month (m/m) in March to 1.4mn barrels per day, while Urals crude traded at a $5 per barrel premium to Brent in the Indian market.
Russian hydropower major RusHydro posts profit of $1.3bn in 2025
Russia’s state hydropower holding RusHydro reported revenue of RUB741bn ($8.1bn) under IFRS for 2025, up 15% year-on-year.
Japan’s MHI selects Saipem’s urea technology for new fertiliser plant in Turkmenistan
Italy’s Saipem on March 20 announced that it has been awarded a new urea licence agreement by Japan’s Mitsubishi Heavy Industries (MHI) for a new fertiliser plant in Turkmenistan.
Appetite for Turkmen gas could rise in China, Turkey and Europe amid Hormuz crisis
Disruption to Middle East supplies may have concentrated minds. Is Central Asia gas a better bet?
Lukoil backs higher dividend than expected despite sanctions
Lukoil’s board of directors has recommended a final dividend for 2025 of RUB278 per share, surpassing analysts’ expectations.
Ukrainian heating firms told to halt gas withdrawals over debt
In the event of non-compliance, the company warned it would forcibly cut gas supply and block accounts.
UK grants Transneft licence to handle Kazakh oil
The UK authority said the licence is valid from March 19, 2026, to March 18, 2028.
Libya to tow damaged Russian shadow fleet LNG carrier to port
The vessel was struck by Ukrainian sea drones.
Russia’s oil windfall from the Iran war masks a slower decline
Russia’s oil industry has been handed a short-term reprieve by the war in Iran and the closure of the Strait of Hormuz, but the boost from triple-digit crude prices does not alter the sector’s deeper trajectory, Sergey Vakulenko says.
Has Trump TACO'd on the Iran war?
Trump's five-day pause on Iran power plant strikes follows the classic TACO pattern of escalate-then-retreat, but analysts warn this war may be the one where the formula breaks down.
Drop in Iranian gas flows tests Turkey’s energy resilience
A sharp fall in Iranian gas supplies to Turkey following Israeli strikes on Iran’s South Pars field and subsequent regional tensions are testing Ankara’s energy security, although analysts say the impact is likely to be contained.
Ukraine gas sector profits plunge after Russian strikes hit infrastructure
Ukraine’s gas production industry saw profits collapse by around 80% in 2025, as sustained Russian attacks on energy infrastructure severely disrupted output and revenues.
Kyrgyzstan: Ousted security services chief now facing corruption allegations
Suspected of involvement in scheme to skim millions while he led an anti-corruption campaign.
Uzbekneftegaz to bore 105 wells with China National Petroleum Corporation subsidiary Xibu
Iran begins charging vessels to transit Strait of Hormuz through IRGC-controlled 'safe corridor'
Iran begins charging up to $2mn per vessel for passage through a new IRGC-controlled "safe corridor" in the Strait of Hormuz, with India, China, Pakistan and Iraq among countries negotiating access.
Iran’s permits-for-passage through Hormuz system is developing fast
Iran has begun extracting payments of up to $2mn per tanker for passage through the Strait of Hormuz, as the informal permits-for-passage system allowing only tankers from “friendly countries” through develops quickly.
Russia accuses Ukraine of trying to disable pipelines that deliver gas to Turkey, Hungary and Slovakia
Gazprom alleges 26 attack drones tried to reach compression stations vital to TurkStream and Blue Stream operations.
Mining output in Azerbaijan rises marginally as oil production declines and gas transport increases
Data on super-polluting plumes show Turkmenistan’s joining of Global Methane Pledge has achieved little
Still one of the worst for potent mega-leaks.
Kyrgyzstan offers moratorium on business inspections, tax service explains “slowness” in probing Kyrgyzneftegaz graft
Journalist was expelled from country when he raised similar corruption claims four years ago.
Report says Azerbaijan to deliver 12,000 pipes to Turkmenistan’s TAPI pipeline project
Almost 12,000 Azerbaijan-manufactured pipes will reportedly be delivered to the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project by the end of this year.
Ukraine and Romania in early talks on Black Sea gas development
Naftogaz is in early-stage discussions with OMV Petrom over the potential joint development of a gas field in the Black Sea, in a move that could bolster regional energy security once the war ends.
KazTransOil expects to export 474,000 tonnes of crude via CPC in March
Kazakhstan’s state pipeline operator KazTransOil (KZ: KZTO) said it expects to export 474,000 tonnes of crude via the Caspian Pipeline Consortium (CPC) pipeline that runs to Russia's Black Sea coast in March.
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