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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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LNG supply crunch as carrier orders outstrip shipping capacity
The global LNG market is facing a supply crunch as planned liquefaction capacity is outpacing the number of new carriers set to enter service by 2030, Argus Media reported on December 18.
Kazakh pipeline operator KazTransOil opens branch office in Poland, first in EU
The board of directors of Kazakh state-run pipeline operator KazTransOil (KZTO) has authorised the opening of a branch office in Poland. The office is the company’s first official representation within the EU, the company said in a statement.
MOL signs upstream agreement with SOCAR
Saudi Midad Energy emerges as frontrunner for Lukoil assets
With an all-cash bid and close ties in both Moscow and Washington, Saudi Midad Energy emerges as top bidder for $22bn foreign asset portfolio of sanctioned Russian oil major Lukoil
Slovenia’s Geoplin wins €185.2mn damages claim against Gazprom Export in ICC arbitration
An arbitral tribunal of the International Chamber of Commerce (ICC) has ruled that Russia’s Gazprom Export breached its contractual obligations towards Slovenia’s gas importer Geoplin during the period from June to December 2022.
UK removes Egypt’s Zohr gas project from sanctions despite stake held by Russia's Rosneft
UK removes Egypt’s Zohr gas project from scope of its sanctions regime despite Rosneft’s minority stake, citing Treasury decision that highlights a pragmatic carve-out for energy assets critical to regional gas supply and Egypt’s LNG exports.
Condor to accelerate gas development activities in Uzbekistan by mobilising second drilling rig
Canada-based Condor Energies Inc (TSX: CDR) said on December 16 in a press release that it intends to accelerate natural gas development activities in Uzbekistan by mobilising a second drilling rig.
Russian oil sold at minor discount as new buyers emerge
Russian crude oil is being sold at one of the steepest discounts seen this year, although minor compared to 2022, as new buyers step in following a sharp drop in demand triggered by fresh US sanctions.
CPC to speed up repairs of single point moorings at Black Sea oil export terminal
The Caspian Pipeline Consortium (CPC) will reportedly receive two new single-point moorings for its Russian Black Sea coast oil export terminal earlier than planned, with delivery now expected in January instead of April.
Kazakhstan expects ruling in Karachaganak arbitration case by end-2025
Kazakhstan reportedly expects a ruling before the end of the year in an arbitration case involving the international consortium developing the Karachaganak oil and gas condensate field.
Transnistria reintroduces state of emergency over gas supply reduction
Leadership of unrecognised republic will restrict gas consumption for industrial users while prioritising households.
Erdogan urges Russia, Ukrain to stop targeting Black Sea vessels
Turkish President Recep Tayyip Erdogan on December 15 urged Russia and Ukraine to stop targeting vessels on the Black Sea, addressing an event organised by Turkey’s foreign minister to bring together Turkish ambassadors in Ankara.
Power of Siberia 2 faces uphill struggles
Plans for a second major gas pipeline linking Russia and China remain subject to prolonged negotiations and technical challenges.
US said to block Xtellus-led bid for Lukoil’s foreign assets
US reportedly blocked the Xtellus-led bid to acquire foreign assets of Russian oil major Lukoil due to meddling in sanctioned assets
Belgium ramps up Russian gas imports in October
Belgium increased its purchases of Russian gas sharply in October, becoming the EU’s third-largest importer of the fuel from the country.
India’s Russian oil imports: a complex picture of contradictory claims
Indian refiners appear set to take in substantial volumes of Russian crude this December, confounding predictions that new Western sanctions would sharply curtail flows.
Russia could extend gasoline export ban to end-February 2026
Russia is likely to extend the gasoline exports ban in 2026 as domestic market remains under pressure
Hungary seeks Azeri gas to replace Russian supply
Hungary signed a framework agreement last week with Azerbaijan that could allow purchases of up to 800 mcm of natural gas over the next two years.
Mining output declines as oil production falls in Azerbaijan in January–November 2025
Black Sea attacks cited as Turkish straits delays faced by tankers grow to 12 days
Delays faced by oil tankers sailing through the Turkish straits have grown to around 12 days for a round trip to the Black Sea, up from around seven days in the previous week, it was reported on December 12
Turkey looks to expand Turkmen gas swap deal
Questions over potential US and EU sanctions cloud efforts.
Gambia's removal of ships from registry drives up Russian oil shipping costs
The re-registration of vessels has pushed up the cost of shipping Russian oil after Gambia removed dozens of ships from its registry.
Kazakhstan redirects crude exports amid CPC disruptions
Kazakhstan is redirecting part of its crude oil exports away from the Caspian Pipeline Consortium (CPC) system towards alternative routes, including the Atyrau–Samara pipeline through Russia.
Gazprom sells minor Moscow airport to local government for $34mn
Russia’s Gazprom has sold the Ostafyevo airport in the south of the Moscow region to the Moscow city government for RUB2.72bn ($34mn).
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