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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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Gazprom achieves 17% growth in gas output for 2024
Russian gas giant Gazprom reported a 17% year-on-year increase in natural and associated gas production in 2024.
Moldova secures €400mn EBRD loan to bolster energy security
State energy trader Energocom will receive a €400mn ($434mn) loan from the European Bank for Reconstruction and Development to finance the purchase of natural gas and electricity.
Hungary’s MVM joins $2.9bn Shah Deniz gas project in Azerbaijan
Hungarian state-owned energy group MVM has secured a 5% stake in the next phase of Azerbaijan’s flagship Shah Deniz gas field, joining a $2.9bn development led by BP.
Turkmenistan douses the flames of “hell”
Crater fire in collapsed desert gas well raged for half a century. Adventurous tourists treasured site. Climate scientists hated it for its massive methane emissions.
Ukraine warns of gas shortfall worth up to €1bn, says Zelenskiy
Ukraine is facing a significant gas supply shortfall valued at around €1bn, President Volodymyr Zelenskiy said.
KazMunayGas considers yuan-denominated bonds as Kazakhstan resists OPEC+ output cuts
KazMunayGas is exploring options to issue yuan-denominated bonds, including both offshore “dim sum” and onshore “panda” bonds, as part of efforts to secure more favourable borrowing terms, CEO Askhat Khassenov has told Bloomberg.
Kazakhstan orders Shell and Eni to halt gas plant project at Karachaganak over cost disputes
Kazakhstan has reportedly instructed Shell and Eni to halt their work on constructing a gas processing plant at the Karachaganak gas and condensate field, citing unresolved disputes over rising project costs and delays.
Russian Transneft oil pipeline operator to pay 2024 dividend
Russian oil pipeline operator Transneft to pay 2024 dividend despite higher profit tax
France and Belgium not satisfied with Russia LNG ban
France and Belgium said they need more reassurance to support the Russian LNG ban
France, Belgium resist call to give up Russian LNG
France and Belgium have expressed strong reservations about the European Commission's proposed ban on imports of Russian LNG by 2027.
Kazakhstan urges oil majors to boost domestic content in energy projects
Kazakhstan’s government is reportedly upping pressure on international oil companies to raise the participation of local suppliers in multibillion-dollar oil & gas projects, as part of a broader strategy to strengthen the country’s economy.
Hungary's MOL signs onshore exploration agreement with Azerbaijan's SOCAR
MOL has signed key terms for an exploration, development and production sharing agreement with Azerbaijan’s state oil company SOCAR for the Shamakhi-Gobustan region of the country.
BP acquires stakes in Karabagh and ADUA blocks, approves $2.9bn Shah Deniz Compression project
BP has deepened its presence in Azerbaijan’s offshore oil and gas sector with two major moves.
BP outlines multibillion-dollar energy strategy in Azerbaijan with new solar, gas and oil projects
BP outlines multibillion-dollar energy strategy in Azerbaijan with new solar, gas and oil projects
Russia’s Gazprom has quietly shelved Turkey gas hub plan, says report
Project praised by Putin no longer seen as viable, sources at energy giant cited as saying.
Naftogaz to receive €36.4mn EBRD loan to modernise drilling fleet
Ukraine’s state energy firm Naftogaz Group will receive a €36.4mn loan from the EBRD to upgrade its drilling fleet.
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.
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