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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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Ukraine's gas consumption forecast to rise in 2025, deputy minister says
Ukraine’s gas consumption is expected to increase in 2025, reaching between 21.8 and 22 bcm.
Turkish conglomerate Calik Holding mulls expanding operations in Kazakhstan
Ahmet Calik, chairman of Turkey’s Calik Holding, has expressed an interest in expanding the conglomerate’s operations in Kazakhstan with a focus on nonferrous metals mining and a potential entry into the country’s gas sector.
Hungary anticipates receiving 8bn cubic metres of Russian gas in 2025
Hungary anticipates receiving 8bn cubic metres of natural gas from Russia via the TurkStream pipeline in 2025, according to reports from Russia's RIA news agency on March 28.
Ukraine to import up to 4.6 bcm of gas before winter
Ukraine will need to import between 4.5bn and 4.6bn cubic meters (bcm) of natural gas before the start of the next heating season.
EBRD approves €270mn loan for Ukraine’s Naftogaz to secure gas supply
The EBRD approved a loan of up to €270mn for Ukraine’s Naftogaz to purchase natural gas for the next two heating seasons.
Armenia, Georgia could purchase Turkmen gas flows under swap deals with Iran if talks progress, says Armenian official
Armenia and Turkmenistan are in negotiations for the supply of gas from the latter to the former via common neighbour Iran, a senior Armenian official said on March 26, as cited by Armenpress.
Russian LPG exports to Afghanistan rise 52% amid EU sanctions
Russian liquefied petroleum gas (LPG) exports to Afghanistan have increased significantly over the past two months, reaching 71,000 tonnes - a 52% rise for the period.
Ukrainian drone strikes damage key oil route infrastructure, CPC management says
There are now three recent drone strikes attributed to Ukrainian forces that have severely damaged key infrastructure operated by the Caspian Pipeline Consortium (CPC), a major conduit for Kazakhstan’s oil exports via the Russian Black Sea coast.
Russian Lukoil oil major to pay 2H24 dividend
The board of Russia’s second-largest oil major Lukoil has recommended a final dividend of RUB541 per share ($5.49) for 2H24, according to the company.
Oil prices mixed as US tariffs on Venezuelan crude counter Russia-Ukraine truce
Oil prices saw a mixed session on Tuesday, March 25, as a temporary truce between Russia and Ukraine in the maritime and energy sectors balanced concerns over tightening global supplies
Uzbekistan’s gas exports jump 57% despite falling output
Gas exports from Uzbekistan increased sharply in early 2025, reaching $42mn in the first two month, marking a 57.3% y/y rise from $26.7mn, according to the state's statistics agency.
UK’s Victoria Oil & Gas initiates legal proceedings against Kazakhstan over Kemerkol oil field
Victoria Oil & Gas, a British energy company, has initiated legal proceedings against the government of Kazakhstan under the Energy Charter Treaty, seeking multimillion-dollar compensation for the loss of its investment in the Kemerkol oil field.
Kremlin posts list of energy assets covered by temporary ceasefire agreement
The Kremlin has posted on its website a list of Russian and Ukrainian installations covered by a temporary moratorium on strikes, agreed between Moscow and Washington in Riyadh during meetings between March 23-25.
Indian imports of Russian oil rebound in March
Indian imports of Russian oil have rebounded in March following a sharp decline witnessed in February due to US sanctions on Russian oil trade
Russia, US discussing restarting Nord Stream gas deliveries to Europe
Moscow and Washington are currently in talks on the possibility of restarting Nord Stream gas pipelines deliveries to Europe, Russian Foreign Minister Sergey Lavrov said.
Profit of Russian oil major Lukoil down 26.5% in 2024
Russia’s second-largest oil company, independent Lukoil, posted a 26.5% decline in 2024 full-year net profit to RUB848.5bn ($10bn), the company reported.
Trafigura local boss in Mongolia loaned $500mn of company money to firm owned by aunt, report says
Russian insurer Ingosstrakh sues Financial Times
Sanctioned state Russian insurer Ingosstrakh started a libel suit in the UK against the Financial Times over claims that it insures “shadow fleet” of Russian oil tankers
OPEC+ announces new cuts to balance out higher output
OPEC+ has unveiled a fresh strategy to enforce additional production cuts, aimed at counterbalancing an uptick in output among its member nations.
European gas prices ease on milder weather, US-Russia ceasefire talks
European wholesale gas prices declined on the morning of March 24 amid mild weather forecasts and as US and Russian officials began talks in Saudi Arabia aimed at securing a broader ceasefire in Ukraine.
EU sanctions to hit Russian LNG exports to China
The EU’s upcoming ban on the transshipment of Russian LNG at EU ports is expected to disrupt winter deliveries from Russia’s Yamal LNG terminal to China and other Asian markets.
Kazakh oil production reaches new record in March
Kazakhstan is likely to try to tread a fine line, either renegotiating its production quotas or continuing to exceed them, while avoiding flouting its commitments so much that it risks causing OPEC+ coordination on output to fall through completely.
Russia becomes China's top gas supplier in January-February
Russia became China’s top pipeline gas supplier in terms of revenue in the first two months of 2025, with exports rising 32.2% year on year to $1.75bn.
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