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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 launches gas imports from Azerbaijan
Ukraine has launched imports of natural gas from Azerbaijan for the first time, with deliveries transiting through the Trans-Balkan pipeline corridor.
Russian LPG exports prove robust despite EU restrictions
China’s role as a key buyer is growing, and current estimates may understate the actual volume.
Russia expands ban on gasoline exports
The move is aimed at stabilising the domestic fuel market during the peak summer demand and ongoing agricultural fieldwork.
Kazakhstan’s major oil refineries process 8.83mn tonnes in 1H25
Kazakhstan’s three key oil refineries processed a total of 8.83mn tonnes of crude oil in the first half of 2025, representing an annual increase of 685,000 tonnes, Kazinform reported on July 24.
Uzbekistan’s 1H25 gas exports climb 51% y/y to $355mn
Uzbekistan’s natural gas exports rose 50.5% y/y in the first half of 2025 to $354.9mn, according to the state's statistical agency.
PrivatBank issues record $116mn loan to Naftogaz to boost winter gas reserves
Ukraine’s state-owned PrivatBank has issued a UAH4.7bn ($116mn) loan to Naftogaz Group, marking the largest energy-sector loan provided by the lender since the start of the war and the first such loan extended to Naftogaz.
Uzbekistan to sign oil exploration deal with Azerbaijan's Socar for Ustyurt plateau
Uzbekistan is set to sign a production-sharing agreement with the State Oil Company of the Azerbaijan Republic (Socar) for joint oil exploration and production on Ustyurt plateau.
Foreign tankers barred from Russian Black Sea ports under new FSB rule, disrupting Kazakh oil exports
Foreign oil tankers are reportedly being temporarily barred from loading at Russia’s main Black Sea ports under new regulations signed by President Vladimir Putin.
KazMunayGas shares surge over 25% despite lack of clear market triggers
Shares of KazMunayGas (KMG), Kazakhstan’s state-run oil and gas company, have risen more than 25% over the past two months, despite the absence of significant news or clear catalysts, Kursiv reported on July 23,
Uzbekistan approves energy cooperation roadmap with sanctioned Russian oil giant Gazprom Neft
Uzbekistan’s Cabinet of Ministers has approved a roadmap to strengthen cooperation with Russian state oil firm Gazprom Neft, despite the Western sanctions that still apply to the company and its leadership.
Ukraine steps up efforts to recover $6.9bn from Gazprom through international arbitration rulings
Ukraine is intensifying efforts to recover $6.9bn from Russia’s Gazprom, following a series of favourable international arbitration awards.
Russia’s oil and gas revenues to take 37% hit
Russian state oil and gas revenue in June 2025 will decline by about 37% year on year to RUB680bn ($8.7bn) due to cheaper oil and a stronger ruble.
Azerbaijan’s Socar reportedly considering sale of Aegean Sea container port in Turkey
Azerbaijan’s national oil company Socar is mulling a sale of its port unit in Turkey, Bloomberg reported on July 22.
Kazakhstan, Uzbekistan dismantle cross-border fuel smuggling tunnel
Authorities in Kazakhstan and Uzbekistan have dismantled an underground tunnel used to smuggle fuels and lubricants across their shared border, KazTAG reported on July 22, citing the Financial Monitoring Agency (AFM) of Kazakhstan.
Kazakhstan aims to boost fuel exports to China, India and Central Asia
Kazakhstan plans to increase its fuel exports to China, India and Central Asia as part of a long-term strategy to expand its oil refining industry, Reuters reported on July 22, citing the Ministry of Energy.
Mitsubishi’s MHI-AP wins three-year Turkmenhimiya fertiliser plant service contract
Mitsubishi Heavy Industries Asia Pacific (MHI-AP), a subsidiary of Japan’s Mitsubishi Heavy Industries, has entered into a three-year service contract with state concern Turkmenhimiya (TH), the operator of Turkmenistan's largest fertiliser plant.
Kazakhstan increases oil exports via Russia as German demand rises
Kazakhstan increased oil exports via its traditional pipeline route through Russia in the first half of 2025, supported by growing demand from Germany, Upstream reported on July 21, citing data released by Kaztransoil.
Azerbaijan’s oil fund reports 3% drop in net profit, increased reliance on gold in 2024
EU's 18th sanctions package: toughest yet or merely demonstrative?
The 18th package may be remembered less for its economic impact than for its political theatre: a demonstration of European unity.
Rosneft slams EU sanctions on Indian oil refiner Nayara
Russia’s state-controlled oil company Rosneft has sharply criticised the EU’s latest sanctions package, which includes measures against Indian refiner Nayara Energy, describing the action as “unjustified and illegal.”
OGT 2025 gains momentum: over 100 delegates registered as global energy leaders confirm participation
Registration is well underway for the 30th Anniversary International Conference and Exhibition “Oil and Gas of Turkmenistan – 2025” (OGT 2025), to be held from October 22–24, 2025, in Ashgabat.
Kazakhstan Supreme Court orders new hearing on $5bn Kashagan field environmental fine
Kazakhstan’s Supreme Court has ordered a new hearing on a $5bn environmental fine imposed on the North Caspian Operating Company (NCOC), operator of the Kashagan oilfield.
Greek tankers continue to transport Russian oil despite new eighteenth sanctions package, come under Ukrainian special ops attacks
Greek-owned oil tankers are likely to continue to carry Russian oil exports, despite the passage of a new eighteenth sanctions package last week that largely targets Russia’s oil exports.
Ukrainian cyberattack cripples Gazprom’s digital infrastructure
Ukrainian hackers have reportedly wiped servers, clouds and backups, crippling the control systems in an unprecedented cyberattack on Russia’s gas champion Gazprom.
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