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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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Europe's gas crisis is back with a vengeance
A year ago, many market watchers were warning that it was premature to say Europe’s gas crisis was over. Now it seems it is back with a vengeance.
Kazakhstan’s Tengiz field reportedly sees oil output surging to 870,000 bpd in late January
Oil production at Kazakhstan’s Tengiz field reportedly surged to a record 870,000 barrels per day (bpd) in late January, marking a 45% increase from the 2024 average.
EU sanctions envoy takes on delicate “compliance” issues on visit to Kazakhstan
Given Russian-Kazakh economic integration, Europe cannot hope to stop every illicit shipment from the Central Asian country to Moscow’s war economy, but there are some notable successes.
Russian refineries see 2.5% dip in oil deliveries in 2024
Crude oil deliveries to Russian refineries declined by 2.5% year on year in 2024 to 271.4mn tonnes, while refining volumes fell by 3.1% to 266.5mn tonnes.
Kazakh wealth fund buys shares in KMG
Kazakhstan’s National Welfare Fund Samruk-Kazyna acquired more than 346,500 ordinary shares of national oil producer KazMunaiGas in the fourth quarter of last year.
Kazakh producer Lucent to help revive Borankol gas processing project
Kazakh privately-owned junior producer Lucent Petroleum plans to produce up to 1.7 mcm of gas per day at the Munaybai field in west Kazakhstan and transport it via pipeline to the Borankol gas processing plant.
Russia sees 14% decline in new well commissioning in 2024
The number of new oil wells commissioned in Russia dropped by 12% last year to 7,610, the Moscow-based Vedomosti newspaper reported on January 28, as Russian operators cut down on drilling in response to OPEC+ restrictions on production.
Moldova begins gas supplies to separatist region Transnistria under short-term fix to energy crisis
Moldova’s state energy trader Energocom will purchase natural gas from the EU market and/or Ukraine to supply separatist region Transnistria with up to 3mn cubic metres per day, financed from the €20mn of the €30mn grant extended by the EU.
Russian gas flow to EU via TurkStream up 27% in January
Exports of Russian natural gas to the EU via the TurkStream pipeline rose by 27% year on year in January, reaching 1.56 bcm.
Sibur shuts down Kstovo petchem plant after drone strike
Russia’s biggest petrochemicals producer Sibur has suspended product shipments at its Kstovo production complex after debris from a downed drone fell onto its premises, causing a fire.
COMMENT: Ukraine eyes key role in Azerbaijani gas transit to Europe
Kyiv wants to become a transit hub for Azerbaijani gas after ending Russian gas transport, but plan faces political, logistical and economic hurdles.
Ukraine’s Naftogaz begins importing natural gas amid supply concerns
Ukraine’s state energy company Naftogaz has started importing natural gas from abroad, despite earlier assurances that the country would rely solely on domestic production for the winter heating season.
OPEC+ weighs Trump policy as oil prices jump on tariff concerns
COMMENT: Trump should do a deal with OPEC and tighten sanctions further to collapse the Russian economy
As its parting shot, the Biden administration imposed the toughest sanctions yet on Russian oil. The incoming Trump administration is changing tack and talking about negotiations, but should tighten sanctions further and cause Russia real pain.
KMG awards Geneva-based BGN contract to lift 520,000 tonnes of CPC Blend per month in 2025
Kazakhstan’s state oil and gas company, KazMunayGas (KMG), has reportedly awarded Geneva-based trading firm BGN a contract to lift up to 520,000 tonnes of CPC Blend oil per month in 2025.
SOCAR enters Israeli Tamar gas field with 10% stake acquisition
Azerbaijan's State Oil Company (SOCAR) has signed an agreement to acquire an effective 10% stake in the Tamar gas field, one of the largest offshore gas reservoirs in the Mediterranean according to company press release.
Russia to audit its oil tanker fleet in wake of Kerch disaster
Two Russian oil tankers were caught in storm on December 15, with one of the vessels breaking in two and sinking, while the other was damaged, causing her to drift for several hours until running aground.
China retakes number one position from Russia in exports to Turkey
Russia in 2024 lost its position as Turkey's main source of goods imports, with China edging ahead to regain the lead it held before 2022, official statistics from the Turkish Statistical Institute (TUIK, or TurkStat) showed on January 31.
Jade Gas coal bed methane project strategy “well advanced” in South Gobi, Mongolia
ASX-listed Jade Gas on January 31 said it is well advanced in delivering on its commercial strategy for its coal bed methane (CBM) gas project at the Tavantolgoi basin in Mongolia in the South Gobi region of Mongolia.
Azerbaijan’s SOCAR acquires stake in Israeli gas field
The NOC has made its first acquisition in the East Mediterranean, after its award of acreage in a licensing round went cold amid geopolitical instability
Uzbekistan’s Saneg turns flared gas into fuel
By utilising associated gas produced at oilfields rather than flaring it, Saneg is bolstering Uzbekistan's energy supply while tackling emissions.
Will the Nord Steam gas pipelines be turned back on soon?
The idea of restarting Russian gas deliveries to Europe via the damaged Nord Stream 1 & 2 pipelines has been introduced as a possible bargaining chip in the mooted Russo-Ukraine ceasefire talks. If it happens it would solve many of Europe's problems.
Seven bid for Lukoil’s Bulgarian refinery, PM Zhelyazkov says
Lukoil has been actively seeking to sell its Bulgarian assets since December 2023, when Sofia banned imports of Russian crude oil.
Turkmenistan to run international tender for construction of soda ash, caustic soda plants
Naftogaz says Ukraine has sufficient gas reserves for heating season
Ukraine’s state energy company Naftogaz Group has assured that the country has enough gas reserves to sustain the heating season, even as officials warn of potential import needs if demand spikes in freezing conditions.
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