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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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New IMO rules pose serious problems for sanctioned Russian shipping
The International Maritime Organisation’s adoption of its Net-Zero Framework in April has raised significant compliance hurdles for Russia’s shipping industry.
Murmansk LNG faces mounting challenges
Caspian Sunrise postpones 2024 results release, pending outcome of asset sale
Kazakhstan-focused Caspian Sunrise has delayed the publication of its 2024 financial results until the outcome of an $88mn asset disposal becomes clearer.
US resists EU and UK push to cut Russian oil price cap at G7 summit
The US is resisting calls from European governments to reduce the G7 price cap on Russian oil from $60 to $45 per barrel, frustrating efforts by the EU and UK to increase financial pressure on Moscow as leaders meet for a G7 in Canada.
COMMENT: Israel-Iran conflict intensifies with limited macro fallout but mounting geopolitical risk
The recent escalation in hostilities between Israel and Iran has signalled a shift from earlier, more calibrated exchanges to a broader and more sustained confrontation.
ING: Oil in focus as Israel-Iran conflict escalates
Commodity markets are focused on escalating geopolitical tensions between Israel and Iran, with the Middle Eastern conflict sparking a surge in oil prices.
Hungary reiterates veto threat over new EU sanctions on Russian energy
Hungary to initiate the removal of a recommendation to phase out Russian energy imports from the agenda of EU energy ministers' summit in light of the situation in the Middle East.
Slovak PM Fico wants EU leaders to postpone vote on new sanctions against Russia
Fico had previously criticised the plan to phase out Russian fossil fuel imports by 2027, which the EU introduced last month.
TurkStream, last pipeline route for Russian gas to Europe, offline for maintenance
Russia has fully suspended pipeline gas deliveries to Europe after flows through TurkStream – the last remaining export route – were halted for scheduled maintenance from June 10-17.
Kazakhstan shows interest in exporting oil, gas and uranium to Slovakia
Kazakh President Kassym-Jomart Tokayev has expressed Kazakhstan’s readiness to begin exporting oil, gas, uranium and other goods to Slovakia.
Kazakhstan grants exploration and development rights for Uztyurt 2 block to Chinese investor
Kazakhstan granted exploration and development rights for the Ustyurt 2 onshore block to Kazakhstan Dinghua Energy, a privately-owned Chinese investor, in a recent auction that saw only four out of nine blocks allocated.
US is looking at question of how its sanctions are blocking Turkmenistan’s deal to supply gas to Iraq via Iran, says report
US officials are assessing the situation as regards the deal under which Turkmenistan wishes to supply Iraq with gas via Iran, an agreement that Baghdad says has been stymied by Washington sanctions on Tehran, Iraqi News reported on June 12.
Moscow court delays hearing till August on Shell-Sakhalin dispute
The Moscow Arbitration Court has postponed until August 25 a hearing in the high-profile lawsuit filed by Russia’s Prosecutor General’s Office against Shell, seeking over €1bn in damages relating to the Sakhalin-2 oil and gas project.
Kazakhstan records 15 fatalities in 11 major industrial accidents during January to May
Kazakhstan recorded 11 major accidents across the petrochemical, mining and energy sectors, as well as in facilities processing agricultural materials during January-May.
Gas blowout occurs near Kazakhstan's Zhanaozen, no casualties reported
A gas blowout at a drilling site near Zhanaozen in western Kazakhstan took place on June 10 during operations by contractor Petro NefteGazServis.
Kazakhstan's main oil export route CPC reduces daily pumping by 6% in May
The Caspian Pipeline Consortium (CPC) reduced daily oil pumping in May by 6% from April to 5.906mn tonnes (1.51mn barrels per day), Reuters reported on June 11 citing industry sources and its own calculations.
Gas crisis prompts Moldova's separatist Transnistria to extend economic state of emergency
President Vadim Krasnoselsky cited the worsening socio-economic crisis and severe energy shortages in the tiny breakaway republic.
Ukraine nears EU bioethanol quota in 2024 as exports surge
Ukraine nearly reached its full annual bioethanol export quota of 100,000 tonnes to the EU in 2024 for the first time since the EU-Ukraine Association Agreement was signed, reflecting a surge in production and improved logistics.
Turkmenistan’s growth slowed by 1.5 pp to 3% in 2024 on weak hydrocarbon exports, IMF mission concludes
Turkmenistan’s growth slowed by 1.5 pp to 3% in 2024 due to weak hydrocarbon exports, the International Monetary Fund said on June 10, reporting on its findings following an Article IV mission to the Central Asian country.
Kazakhstan's oil exports to Germany via Druzhba pipeline rise 48% in 5M25
Kazakhstan reportedly increased its oil exports to Germany via Russia's Druzhba pipeline by 48% y/y in the first five months of 2025, with the flow reaching 767,000 tonnes, or approximately 37,000 barrels per day.
Japan said to buy first Russian Sakhalin oil since invasion
The Japanese oil refiner Taiyo Oil bought Russian crude oil on a tanker that’s blacklisted by both the US Treasury and the European Union.
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.
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