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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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Bulgarian lawmakers to take control of Lukoil oil terminal
Lawmakers in the 240-seat parliament voted 144 in favour of a bill that would end Lukoil’s concession to run the Rosenets oil terminal near the Black Sea port of Burgas.
Arctic LNG-2 to reach full capacity in Q1 24, says Novatek head
Russia’s top LNG producer Novatek expects the first train of its Arctic LNG-2 project to reach its full capacity of 6.6mn tonnes per year in the first quarter of 2024, CEO Leonid Mikhelson told reporters late on July 20.
Czech Republic to continue importing Russian oil until 2025
The Czech Republic will continue importing Russian oil until 2025, at which point it will be able to switch to alternative supplies, an official at Czech pipeline operator Mero, Zdenek Dundr, told the local Pravo newspaper on July 21.
Russian oil firms' contributions to rise to highest level this year in August
Russian oil companies’ contributions to the Russian state will climb in August to their highest level this year following a rise in the price of the country’s flagship Urals oil blend, the finance ministry reported last week.
Dubai replaces Geneva as key base for Russian oil trade
Dubai and other cities in the UAE have replaced Geneva as a major base for traders of Russia’s oil since Swiss authorities joined the EU embargo on that trade last year.
FSUOGM: Russia to slash oil exports in August
Novatek to raise LNG supplies to Japan
Russian natural gas producer Novatek plans to ship over 2mn tonnes per year of LNG from the Arctic LNG 2 plant, Reuters reported on July 21.
ASX-listed Elixir Energy reportedly encouraged by results at Nomgon coalbed methane project in Mongolia
What is the outlook for Russian oil output this year?
OPEC maintained its forecast for Russian oil production this year at 10.28mn barrels per day in its latest monthly report, despite the government’s recently announced plan to curtail exports by 500,000 bpd in August.
Ukraine has amassed 10.5bn cubic metres of gas for heating season, but more is needed
Ukraine has amassed 1.5bn cubic metres of gas in its storage facilities since March 2023, bringing the total to 10.5 bcm, which is still a long way off from the 14 bcm needed for the 2023/24 heating season, Economic Pravda reported on July 19.
Zarubezhneft eyes divestment off Indonesia
Russian state oil firm Zarubezhneft intends to divest its interest in the Indonesian Tuna gas project after its UK partner Harbour Energy said Western sanctions were complicating their joint activities.
Finland's Gasum resumes Russian LNG purchases
Novatek CEO Leonid Mikhelson said in June that Gasum had not bought any LNG from the Kryogas-Vysotsk plant, situated in north-west Russia, since April.
Russia to slash oil exports in August
Russian oil exports are slated to drop by 100,000-200,000 barrels per day in August versus the level this month, sources told Reuters last week, signalling that Moscow intends to follow through on its OPEC+ commitment to make further supply cuts.
Lukoil, KMG well in Kazakh Caspian Sea turns up dry, project disbanded
Russia’s Lukoil and Kazakhstan’s Kazmunaygas (KMG) have disbanded a joint venture to explore the Zhenis block in the Kazakh Caspian Sea, in a further disappointment for Astana’s efforts to spur offshore hydrocarbon development.
Kazakhstan transits four times more Russian oil to Uzbekistan
Uzbekistan has started significantly increasing imports of Russian oil through Kazakh pipelines after a long three-year hiatus, Kazakh oil pipeline operator KazTransOil (KTO) has said.
SOFAZ's assets in 1H23 reached almost $55bn
SLB oilfield major to stop Russian supplies
Major oilfield services company SLB (formerly Schlumberger) has announced stopping product and technology supplies to Russia from all of its facilities around the world due to tougher international sanctions, according to the company.
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