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The Caspian Sea's legal status: what does this mean for oil and gas?

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10 August 2018

The Caspian Sea's legal status: what does this mean for oil and gas?

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

Tables and charts

This report includes 1 images and tables including:

  • Caspian Sea: border disputes

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    The Caspian Sea's legal status: what does this mean for oil and gas?

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