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The Caspian Sea's legal status: what does this mean for oil and gas?
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Report summary
On 12 August, the Convention on the Legal Status of the Caspian Sea will be signed by the heads of the five littoral states – Azerbaijan, Iran, Kazakhstan, Russia and Turkmenistan – at the latest summit in Aktau, Kazakhstan. This is an unprecedented milestone for the region, which has long disputed the thorny issue of whether the Caspian is a sea or lake. But, the implications for the energy sector – upstream and midstream - will prove less immediate and less significant than may appear.
Table of contents
- What will be agreed?
- Why is the Trans-Caspian Gas Pipeline still unlikely?
- What will be the impact on upstream opportunities?
- Balancing optimism with reality
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- Caspian Sea: border disputes
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