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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.
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Azerbaijan increased gas exports by 23% in January-September
IEA declares end to "Golden Age of Gas"
The energy crisis triggered by Russia’s invasion of Ukraine effectively marks the end of the 10-year Golden Age of Gas, the International Energy Agency said in its medium-term gas market report this month.
European gas prices soar to two-month high
European natural gas prices spiked last week, nearing levels not seen in two months, with the market in the grip of geopolitical concerns, renewed shortage fears and cold weather.
Proposed Turkmen gas supply deal for Iraq via Iran swap potentially a major earner for Ashgabat
Russia discusses reverse flow of oil to Azerbaijan
Russian Deputy Prime Minister Alexander Novak and Azeri Energy Minister Parviz Shahbazov discussed the potential expansion of the Tikhoretsk-Baku oil pipeline at the Russian Energy Week forum
Russian gas production to dip to 14-year low in 2023, says IEA
Russia is on track to see its natural gas output collapse this year to its lowest level since 2009, the International Energy Agency projected in its medium-term gas outlook this month.
Price for European diesel may rise this winter due to supply pressures
Europe could face spiking prices for diesel this winter as it grapples with a shortage of diesel fuel and heating oil, largely due to the loss of its primary supplier, Russia, following the ban on Russian fuel imports to Europe.
DTEK to drill its first ever oil well
Ukraine's energy giant, DTEK, has announced plans to drill its first ever oil well in the Poltava region within a month, CEO Maksym Timchenko said at a press conference on October 12.
Gazprom opposes liberalisation of Russian LNG exports
Russia’s Gazprom has said it opposes the liberalisation of the country’s LNG export industry, in an apparent move to defend its leading position in the space, the Moscow-based Vedomosti newspaper reported on October 10.
US imposes first punishments for ignoring Russian oil price cap sanctions
US officials have imposed sanctions on companies violating the $60 per barrel price cap on Russia's seaborne crude exports for the first time on October 12.
COMMENT: Non-Western tankers carry most of Russian crude exports, G7 oil price cap fails
Three-fifths of Russia's seaborne crude exports are now being shipped by tankers not required to comply with the G7 oil price cap, according to S&P Global data, as the oil price cap sanctions are increasingly seen to have failed.
US hits Turkey’s Ice Pearl, UAE’s Lumber Marine with sanctions for violating oil price cap
Azerbaijan increased production of gasoline by 19% and diesel by 20% in January-September 2023
Fuel consumers in Azerbaijan in January-September 2023 purchased motor gasoline and diesel for a total cost of AZN2.218bn ($1.305bn), which is 6.7% higher than for 9M 2022.
Russia and Azerbaijan discuss Tikhoretsk-Baku oil pipeline expansion
Discussions between Russian Deputy Prime Minister Alexander Novak and Azerbaijani Energy Minister Parviz Shahbazov centred on the possibility of expanding the Tikhoretsk-Baku oil pipeline for reverse oil deliveries from Russia to Azerbaijan.
Eni-led consortium of Kashagan oil field operators may seek arbitration in response to $4.8bn fine imposed by Kazakhstan
Kazakhstan assesses potential Russian natural gas supply transit volumes for Uzbekistan
Azerbaijan reduced oil and condensate production by 7.7%, and increased gas output by 4.4% in January-September
Oil production with gas condensate in Azerbaijan in January-September 2023 amounted to 22.6035mn tonnes, down 7.7% from the same period in 2022. Commercial oil production with condensate amounted to 22.5138mn tonnes (down 7.8%).
Azerbaijan eyes participation in restart of Bosnia’s Brod oil refinery
Azerbaijan is interested in participating in the restart of production of Bosnia & Herzegovina’s Brod oil refinery, said Petar Djokic, Energy and Mining Minister of Republika Srpska.
Finland says subsea pipeline damage appears to be deliberate
Finnish media reported that the Finnish government and the Finnish Defence Forces suspect Russia attacked the Balticconnector gas pipeline.
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