Shifting FSU Export Flows

After providing 2.8 mbpd of incremental liquids supply during 2004-09, production growth in the former Soviet Union (FSU) slowed significantly during 2010-11, as shown in the chart below. Easing global oil demand growth, field maintenance issues in Azerbaijan and Kazakhstan, expansion work on the Caspian Pipeline Consortium (CPC) pipeline and new field development delays all contributed to the FSU slowdown. Russian production, however, has continued to hit new post-Soviet highs, benefitting from additional output at the Vankor field and other eastern Siberia greenfield projects. Download here