FORMER SOVIET UNION

(Europe/FSU)

POPULATION: 305 mm

AREA (on):  km2

OIL PEAK:  (forecast)

SUPPLY

The countries of the former Soviet Union are major oil and gas producers. Although onshore oil production will reach a peak around 2012, new offshore production from Russia and Kazakhstan in the Caspian Sea and from Russia off Sakhalin Island will continue to impact the market over the long term.

Both onshore and offshore gas production were rising from Russia, Azerbaijan, and Kazakhstan, and also from onshore Turkmenistan and Uzbekistan but the recession has reduced demand, especially for Russian gas, and so developments will be delayed, leading to some reduction in output for a period up to 2012.

 

DEMAND

Former Soviet Union gas demand is bound to increase rapidly as new supplies are realised, replacing other fuels (especially oil) wherever possible.

Exports of oil will continue to grow whilst gas exports will decline through to 2013 before rising again when new supplies come onstream able to offset new demand needs in Europe and Asia. There are strong incentives for the FSU to develop more gas to serve the needs of these markets.

 

This is a simple forecast - detailed forecasts including offshore and onshore, deep water splits, sedimentary basins and major fields and drilling etc. can be purchased for most countries.

 

An onshore and offshore oil and gas production, consumption and drilling activity forecast report on this region can be commissioned,

including all relevant charts. Contact us for price and contents list.

 

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