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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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Russia's fuel crisis eases as refineries restart and Ukraine's strikes slow
Russian regions are lifting limits on petrol sales as Ukraine's drone strikes on refineries slow under US pressure and damaged plants come back online.
Uzbekistan’s natural gas output falls 16.4%, car production rises 9.2% in January–September
Russia's weekly seaborne crude export value hits wartime high of $2.76bn
Russia's seaborne crude exports were worth $2.76bn in the week to October 25, the most in a single week since the 2022 invasion of Ukraine.
EU gas storage stalls at record low as central Europe starts drawing down
EU gas storage has all but stopped filling at 74.9%, a record low for late October, with Austria, Slovakia and the Czech Republic drawing gas out for a second week.
Putin says EU phase-out of Russian gas will raise costs
Putin said efforts to exclude Russia from global gas markets would raise consumer costs at the Gas Exporting Countries Forum in Moscow.
Turkmenistan signs Caspian offshore cooperation deal with China;s CNOOC
Turkmenistan has signed a preliminary agreement with China's CNOOC covering potential cooperation in offshore oil and gas development in the Caspian Sea.
Kazakhstan loses $12bn Kashagan arbitration claim as wider legal battle continues
An international arbitration tribunal has rejected approximately $12bn of Kazakhstan's claims against the foreign oil companies developing the giant Kashagan oilfield.
Turkmenistan reaffirms support for Trans-Caspian gas pipeline, but obstacles remain
Turkmenistan has reiterated its willingness to supply natural gas through a proposed pipeline beneath the Caspian Sea to Azerbaijan and onwards to Europe.
Turkmenistan targets 80 bcm of gas/year, plans to start piped supplies to Afghanistan in 2027
Turkmenistan plans to produce 80bn cubic metres (bcm) of natural gas a year in both 2026 and 2027, up from 76.5 bcm in 2025, while the country expects to begin pipeline exports to neighbouring Afghanistan in 2027.
Azerbaijan's crude exports to Italy reach $5.5bn in nine months as Azeri Light trades above $126
Azerbaijan exported 8,881,441 tonnes of crude oil to Italy worth $5.51bn in the first nine months of 2026, with the figure down 7.4% in volume but up 10.4% in value from the same period of 2025, according to the State Customs Committee.
Rosneft commissions gas refuelling station at Siberian oilfield
Russia's Rosneft has commissioned a compressed natural gas (CNG) refuelling station at the Srednebotuobinskoye oil and gas condensate field in Yakutia, enabling the conversion of up to 125 specialised vehicles from diesel to gas.
Russia’s Omsk governor urges calm over fuel supplies after fresh drone attack
The governor of Russia's Omsk region has urged residents not to panic-buy fuel after Ukrainian drones reached an industrial district housing one of the country's largest oil refineries on October 24.
Russia could increase fuel prices to cover import losses
China pays Russia less for gas than it pays Turkmenistan, Carnegie finds
China pays Russia $40-60 per 1,000 cubic metres less for pipeline gas than it pays Turkmenistan, according to an analysis of leaked Russian price data.
Malaysia pushes for bigger role in Turkmen oil and gas as Petronas partnership deepens
Malaysia is seeking to deepen its energy ties with Turkmenistan, targeting higher-value oil and gas services, technology and specialised engineering, according to Economy Minister Akmal Nasrullah Mohd Nasir.
Azerbaijan targets 40% emissions cut by 2035, net zero by 2060
Azerbaijan's cabinet has approved a long-term low-carbon development strategy that sets a net zero greenhouse gas emissions target for 2060.
International arbitration court rejects $12bn of Kazakhstan’s Kashagan cost claims
An international arbitration court has reportedly dismissed about $12bn of Kazakhstan’s claims over disputed costs at the Kashagan oil field, while allowing a further $8bn in claims to proceed.
Black Sea Petroleum says Georgia refinery running on non-Russian crude, seeks removal from EU sanctions list
Company says feedstock is now Libyan oil.
Dragon Oil intends to extend PSA with Turkmenistan to beyond 2035
The UAE's Dragon Oil (LON: DGO) will reportedly seek to agree an extension to beyond 2035 of its partnership-based work in Turkmenistan with the country's government and state concern Turkmennebit.
Azerbaijan oil fund's ACG income rises 6% to $3.9bn, Shah Deniz falls 19%
Azerbaijan's State Oil Fund (SOFAZ) earned AZN6.57bn ($3.87bn) from the Azeri-Chirag-Gunashli (ACG) oilfield block in the first nine months of 2026, up 6.3% y/y.
Analyst warns of pressure on Russian oil exports and predicts global oil surplus by 2028
Russia faces mounting energy risks from Ukrainian attacks, dependence on Chinese influence and the prospect of a global oil surplus, while Ukraine prepares for a difficult winter, says analyst.
Azerbaijan oil fund net profit rises 240% to $15.8bn in 2025
The State Oil Fund of Azerbaijan (SOFAZ) ended 2025 with a net profit of AZN26.91bn ($15.83bn), a 240% increase from 2024, according to its financial statements.
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