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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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Japan doubles down on Russian energy supplies despite sanctions pressure
Japan has reaffirmed its intention to continue imports of Russian oil and gas, even as Western nations push Moscow further into economic isolation.
Kazakhstan tells Ukraine to cease "unacceptable" attacks on its main oil export facility on Russian Black Sea coast
Drone strikes are “harming bilateral relations”, warns Astana.
Profit of sanctioned Russian Rosneft drops 70% in 9M25
Profit of Russian state oil major Rosneft down 70% under IFRS in the first nine months of 2025 as the company has been hit by the US sanctions
Russian gas giant Gazprom ups profit 13% in 9M25
Russian gas giant Gazprom giant maintains net profit in 9M25 under IFRS despite the debt pile
Italy to extradite Ukrainian suspect in Nord Stream blasts to Germany
Italy will extradite a Ukrainian man suspected of involvement in the 2022 explosions that damaged Russia’s Nord Stream gas pipelines.
EBRD to extend further €500mn loan and matching grant to Ukraine’s Naftogaz
The European Bank for Reconstruction and Development (EBRD) will provide Ukraine’s state energy company Naftogaz with an additional €500mn loan and a matching €500mn in grant support.
Kyiv hits Russia’s sanction-evading shadow fleet in Black Sea off Turkey
Ukraine has intensified its campaign against Russia’s oil trade by striking two tankers linked to Moscow’s sanction-evading maritime network in the Black Sea.
EU’s Russian gas phase-out sets stage for BP-led expansion in Azerbaijan
The EU plan to eliminate natural gas imports from Russia by 2028 is poised to strengthen BP-operated gas projects in Azerbaijan, which has already been increasing exports to European buyers and positioning itself as a strategic substitute supplier.
Serbia expects new gas agreement with Russia next week
Serbia expects to finalise a new gas arrangement with Russia next week, Dusan Bajatovic, director of Srbijagas said on November 27.
Ukraine doubles December gas import bookings from Greece as winter demand rises
Ukraine has doubled the capacity booked for natural gas imports from Greece for December, marking the highest monthly volume yet on the joint Route 1 corridor.
CPC terminal building damaged in UAV strike near Russian port of Novorossiysk
The Caspian Pipeline Consortium (CPC) said its administrative building at the marine terminal near Novorossiysk on the Russian Black Sea coast was damaged after unmanned aerial vehicles (UAVs) struck the area during the night of November 25.
Co-founder of Russian Lukoil Fedun dumped 10% stake before sanctions
Kazakhstan’s Tengiz oilfield raises output by 8.5% m/m so far versus October
Kazakhstan’s Tengiz oilfield, the country’s largest, reportedly raised production to 787,300 barrels per day between November 1 and 23, an 8.5% increase compared with October.
Industry leaders warn of rising pressure on mature fields at Caspian technical conference in Baku
The SPE Caspian Technical Conference opened in Baku on November 25 , bringing together senior government officials, international operators and technology companies for three days of discussions
Romania claims three in race to buy Lukoil’s local assets, state takeover not excluded
Three bidders from Romania, the EU and the US are interested in Lukoil's local assets, which include a medium-sized refinery, a filling station chain and an offshore gas perimeter under exploration, the Romanian Minister of Energy said.
Russian oil discounts to India keep growing
Russian oil and gas revenues could drop 35% in November
Russia's federal budget revenues come under increased pressure after the latest round of US sanctions on Lukoil and Rosneft, Reuters estimates
Canada's Condor Energies reaches total depth on first horizontal well in Uzbekistan
Canada's Condor Energies Inc (TSX: CDR) has reached the total depth on its first horizontal well andakli-23 (A-23), located in the Andakli field of Uzbekistan, the company announced on November 24.
Kazakhstan’s competition authority proposes sales of 50% of KMG’s overseas arm
Kazakhstan’s competition authority has reportedly proposed selling up to 50% of KMG International, the overseas arm of KazMunayGas (KASE: KMGZ), through an open, two-stage bidding process planned for 2026–2027.
Russian Lukoil recommends dividends despite sanctions
Russian sanctioned independent oil major Lukoil recommends interim dividends despite sanction pressure
Sustainable Fitch assigns SOCAR an ESG rating of ‘3’ amid mixed environmental and governance performance
Turkey’s underground gas storage facilities at full capacity ahead of winter
Turkey’s underground natural gas storage facilities have been fully stocked ahead of the winter season, ensuring supply security for peak-demand months, Energy and Natural Resources Minister Alparslan Bayraktar has announced.
Romania says it is protecting Romgaz’s participation in Lukoil-operated Trident offshore block
Romanian Prime Minister Ilie Bolojan said on November 21 that the Government has taken measures to protect the interests of state-owned natural gas producer Romgaz in the Trident offshore perimeter operated by Russia’s Lukoil.
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