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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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Kazakhstan's Kashagan oil field to undergo equipment upgrade in 2026 without halting production
Kazakhstan’s largest oil and gas field, Kashagan, is set for an equipment upgrade in 2026, Kursiv reported on June 9, citing the North Caspian Operating Company (NCOC), the field’s operator.
Nasdaq-listed Plug Power and Australia’s AGA team up for 2GW green fuel project in Uzbekistan
US-based Plug Power said on June 9 that it has expanded its partnership with Australia's Allied Green Ammonia (AGA) with an agreement to provide two gigawatts (GW) of electrolyser capacity for a sustainable fuels project in Uzbekistan.
Russia seeks to resume 5+2 talks on Transnistria, hints at new energy crisis
Fears Moscow could trigger a new energy crisis in separatist Transnistria if the pro-EU PAS wins Moldova's autumn general election.
Kazakhstan reduces gas flaring by 75% since 2012
Kazakhstan has reduced gas flaring by 75% over the past decade, the Clean Air Task Force (CATF) said in a statement on June 5.
Gazprom more than quadruples gas supplies to Uzbekistan in 2024
Gazprom increased its gas deliveries to Uzbekistan from 1.28bn cubic metres (bcm) in 2023 to as much as 5.64 bcm in 2024, according to a report from Interfax.
Russian oil sector posts $4bn 1Q25 loss as profits collapse ahead of April oil price slump
Russia’s largest oil producers have collectively reported a net loss of over RUB411.8bn ($4bn) in the first quarter of 2025, a dramatic reversal from the RUB475.7bn in profits posted during the same period last year.
BP's $2.9bn FID in Azerbaijan won't mean higher exports
Hopes are slim that Azerbaijan will be able to ramp up gas supply to Europe to 20 bcm per year as targeted for a number more years.
US investor Lynch in talks with Germany on taking over Nord Stream 2
Before relocating to Miami in 2019, Lynch lived in Moscow for two decades. During this time, he was involved in significant financial dealings, including the acquisition of a subsidiary of Yukos in 2007 and the Swiss division of Sberbank in 2022.
Leak reported at Druzhba pipeline in Belarus
The cause of the incident has not yet been determined, but the ministry said no oil products had entered any water bodies.
Russian gas exports to dip 3% in 2025: Moscow-based CPI
Russian pipeline gas exports are expected to decline by 3% in 2025 to 115bn cubic metres, as gains in shipments to China fail to fully offset the loss of transit through Ukraine.
Another well blowout occurs in west Kazakhstan
Emergency services in Kazakhstan’s Mangistau region are responding to a blowout of a gas-water mixture at a well at the Tolkyn oilfield.
Russian seaborne oil exports slump by third in final week of May amid fresh sanctions
Russian seaborne oil exports slumped by almost a third in the final week of May, as EU sanctions targeted 189 tankers.
Gazprom achieves 17% growth in gas output for 2024
Russian gas giant Gazprom reported a 17% year-on-year increase in natural and associated gas production in 2024.
Moldova secures €400mn EBRD loan to bolster energy security
State energy trader Energocom will receive a €400mn ($434mn) loan from the European Bank for Reconstruction and Development to finance the purchase of natural gas and electricity.
Hungary’s MVM joins $2.9bn Shah Deniz gas project in Azerbaijan
Hungarian state-owned energy group MVM has secured a 5% stake in the next phase of Azerbaijan’s flagship Shah Deniz gas field, joining a $2.9bn development led by BP.
Turkmenistan douses the flames of “hell”
Crater fire in collapsed desert gas well raged for half a century. Adventurous tourists treasured site. Climate scientists hated it for its massive methane emissions.
Ukraine warns of gas shortfall worth up to €1bn, says Zelenskiy
Ukraine is facing a significant gas supply shortfall valued at around €1bn, President Volodymyr Zelenskiy said.
KazMunayGas considers yuan-denominated bonds as Kazakhstan resists OPEC+ output cuts
KazMunayGas is exploring options to issue yuan-denominated bonds, including both offshore “dim sum” and onshore “panda” bonds, as part of efforts to secure more favourable borrowing terms, CEO Askhat Khassenov has told Bloomberg.
Kazakhstan orders Shell and Eni to halt gas plant project at Karachaganak over cost disputes
Kazakhstan has reportedly instructed Shell and Eni to halt their work on constructing a gas processing plant at the Karachaganak gas and condensate field, citing unresolved disputes over rising project costs and delays.
Russian Transneft oil pipeline operator to pay 2024 dividend
Russian oil pipeline operator Transneft to pay 2024 dividend despite higher profit tax
France and Belgium not satisfied with Russia LNG ban
France and Belgium said they need more reassurance to support the Russian LNG ban
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