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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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Russia, Mongolia hold more talks on gas pipeline to China
Plans for the Power of Siberia 2 gas pipeline linking Russia to China via Mongolia were discussed during a meeting between Russian Energy Minister Sergei Tsivilev and Mongolia’s Ambassador-at-Large Zandaahuu Enkhbold.
Russian reliance on oil and gas revenues remains high in 2024
Russia’s reliance on oil revenues remains substantial despite long-running debates about diversifying the economy, with oil and gas earnings – primarily from oil – rising 26.2% in 2024.
Gazprom Neft reportedly set to take over Gazprom Burenie drilling contractor
Russian oil producer Gazprom Neft may assume control of Russia’s largest drilling contractor, Gazprom Burenie, currently a subsidiary of parent company Gazprom’s construction arm.
NYSE-listed Apollo to pay $1bn for 25% of BP unit that operates Azerbaijan to Turkey TANAP gas pipeline
BP and NYSE-listed alternative asset manager Apollo on March 21 announced that they have struck agreements for Apollo-managed funds to purchase a 25% non-controlling stake in BP Pipelines (TANAP).
A turbulent 2025 in store for European gas markets
This is going to be a turbulent year for European gas prices. If the war continues and the EU sticks to its “no more Russian energy” guns then prices could soar in a repeat of the 2022 energy crisis.
Sanctioned Russian tankers may be supplying Syria’s oil needs
Syria’s interim government is reportedly seeking oil shipments from Russian-linked vessels to address a severe energy crisis inherited from the Assad regime.
Hungary receives two-month exemption for paying for Russian gas
The US government has extended Hungary’s exemption from sanctions when paying for Russian gas to Gazprombank until May, ensuring continued secure natural gas supply, Hungarian Foreign Minister Peter Szijjarto announced in Ankara.
Rosneft achieves record revenue, EBITDA in 2024
Russia’s largest oil producer Rosneft reported record revenue of RUB10.14 trillion ($12.7bn) in 2024, an 11% year-on-year increase.
US reportedly agrees sanctions waiver on Turkey gas payments to Russia
Turkey has reportedly successfully appealed to the US for an extension to a sanctions waiver that applies to gas payments made to Black Sea neighbour Russia.
ING: What a potential restart of Russian gas flows could look like
Growing optimism for a peace deal between Russia and Ukraine has sparked discussions about the potential resumption of Russian gas flows to Europe. It might happen: a partial restart of flows could drastically change the outlook for the gas market.
Kazakh president appoints new energy minister
Kazakhstan’s President Kassym-Jomart Tokayev on March 19 appointed Erlan Akkenzhenov as the country’s new energy minister, following the reassignment of Almasadam Satkaliyev to head the country's newly established nuclear power agency.
Turkey’s energy minister holds out prospect of Turkish-Turkmen partnerships in developing Caspian Sea oil and gas fields
Turkey is aiming to establish partnerships with hydrocarbon-rich Turkmenistan for the development of Caspian Sea oil and natural gas fields, says Turkish Energy and Natural Resources Minister Alparslan Bayraktar.
New tariffs in Uzbekistan applied to discourage raw material exports in favour of value-added production
Uzbekistan has moved to simplify export procedures for raw materials while at the same time applying new tariffs to discourage their export in favour of local processing that produces value-added goods.
Ukraine signs deal to purchase 100mn cubic metres of US LNG
Ukraine has secured a deal to purchase 100mn cubic metres of US liquefied natural gas (LNG) through state-owned Naftogaz and Poland’s Orlen.
Kazakh energy minister to step down and head atomic energy agency
Kazakhstan’s Minister of Energy, Almasadam Satkaliyev, is stepping down from his position and will switch to heading the country’s newly established atomic energy agency.
Poland’s Orlen signs another contract to supply Ukraine with LNG
Poland’s state-run energy company Orlen has signed a second deal with Ukraine’s biggest state-owned energy firm Naftogaz to provide it with an additional 100mn cubic metres of LNG.
INTERVIEW: Biomethane can make up Ukraine’s gas shortfall - Ukraine Bioenergy Association
Ukraine is rapidly developing its biomethane sector with ambitions to become a major European supplier. Georgii Geletukha told bne IntelliNews that Ukraine has the potential to produce up to 20bn cubic metres per year.
CPC transports 13.5mn tonnes of oil via Tengiz-Novorossiysk route as of March 11
The Caspian Pipeline Consortium (CPC) transported 13.5mn tonnes of oil through its Tengiz–Novorossiysk pipeline system that runs from Kazakhstan to the Russian Black Sea coast as of March 11, TASS has reported, citing the pipeline operator.
Kazakhstan’s competition protection agency proposes partial privatisation of two major oil refineries
Kazakhstan’s central bank expects its base interest rate to remain elevated in the near term, projecting an average range of 14.5-18% for 2025, according to a statement released by the regulator on March 17.
Russia's Gazprom stung by net RAS loss in 2024
Russia’s state gas giant Gazprom suffered an annual loss in 2024, because of a drop in the market value of shares in its oil production arm Gazprom Neft.
Ukraine seen turning to US LNG imports as damage to gas infrastructure mounts
Mounting damage to Ukraine’s natural gas production facilities is forcing Kiev to turn increasingly to gas imports from its European allies – as was recently illustrated by the agreement between Naftogaz and Poland’s Orlen.
Israel and Azerbaijan relations warm as SOCAR secures oil exploration licence
Azerbaijan's national oil company SOCAR has secured exploration licences for Block "I" in Israel's Exclusive Economic Zone, Azerbaijan's Minister of Economy Mikayil Jabbarov announced.
Moldova to levy duty on gas purchased by Transnistria for industrial use
If Transnistria uses the natural gas imported with money from Russia for industrial purposes, Moldova will impose a duty to bring the companies in the separatist region on equal footing with those in other parts of the country.
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