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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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Uzbekneftegaz eurobond issue raises $850mn
Ukraine April gas storage injections down 44% on 2024 after delayed start to injection season
Ukraine injected 258mn cubic metres of natural gas into its underground storage facilities in April, according to calculations by energy consultancy ExPro.
Diesel deals push Brazil closer to Russia
Brazil’s strategic partnership with Russia has strengthened significantly since the start of Moscow’s full-scale invasion of Ukraine primarily due to Russia's cheap fuel supply, Ukrainian Ambassador to Brazil Andrii Melnyk told RBC-Ukraine.
Uzbekistan breaks energy monopolies in move toward WTO membership
Uzbekistan has dismantled the decades-long natural gas transmission monopoly held by Uztransgaz as part of reforms designed to help liberalise the country’s economy and meet conditions for World Trade Organization (WTO) membership.
China's CHN Energy pledges $4bn investment in Kazakhstan's ammonia and carbamide production
Chinese state-owned enterprise CHN Energy has expressed its readiness to invest $4bn in ammonia and carbamide production projects in Kazakhstan.
Hungarian Commissioner delays EU plan to curb Russian energy dependence
Hungary's EU Commissioner Oliver Várhelyi raised a last-minute objection to delay the approval of the EU's roadmap for ending the bloc's Russian energy reliance.
Petronas signs up for more Turkmen offshore blocks
Malaysia’s Petronas signed a memorandum on April 24 with Turkmenistan’s state-owned oil company Turkmennebit on exploring additional blocks in the Turkmen sector of the Caspian Sea.
Russia sharply revises 2025 budget forecast amid weaker oil prices
Russia has sharply revised its 2025 budget deficit forecast, widening the gap to 1.7% of gross domestic product from a previous estimate of 0.5%.
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.
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