Kristine Margvelashvili
MA student at International Hellenic University
Black Sea Cultural Studies (Politics and Economy
Stream); Erasmus Mundus Program

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Riparian States: Azerbaijan, Iran, Kazakhstan, Russia,
Turkmenistan.
Main actors in the Region: USA, EU, Russia, China
Oil production started in the Baku area at 1848
The development of Absheron peninsula oil mining is linked with Nobel brothers from Sweden who came and settled in
Baku in 1873

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Caspian Energy reserves is predicted to constitute nearly 3-4
% of world’s proven reserves
As about power sharing in the region Azerbaijan and
Turkmenistan posses biggest part of reserves while trying to combat with Russian still engrained political domination
Black Sea as a path to Caspian oil is in the focus of EU, USA while itself the Caspian Region became active after 9/11 and war in Afghanistan and Iraq
Eurasianism Theory –which considers Russian and Central
Asian people close to each other culturally thus foreseen
Russia as a leader amongst them

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Proven oil reserves: Azerbaijan estimated is 7.0 thousand
Million Barrels, in Kazakhstan 39.8 thousand MB in
Turkmenistan 0.6 for Iran its 137.0 thousand MB. Russia -
77.4 MB
Production : in Azerbaijan is 1037 thousand of barrels daily which is 1.3% share of total world production, for Russia it’s
10 270 and its 12.9 % of total. Kazakhstan is producing
1757 thousand barrels daily, Turkmenistan 216 and Iran 4245 which is 5.2 % of total
Upward trends although less than Middle East and necessity of more investment in the field

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Azerbaijan’s proven gas reserve at the end of 2000 year was
1.2 trillion cubic meters and in 2010- 1.3 trillion cubic meters. Kazakhstan’s share are bit bigger 1.8 in 2010,
Turkmenistan possess 8.0 trillion cubic meter proven reserves. Iran 29.6 from which 11 trillion cubic meters is located on Caspian Sea
Production: Azerbaijan produces 15.1 billion cubic meters .
Kazakhstan. 33.3 and Turkmenistan 42.2, Iran 138.5 cubic meters

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Caspian Pipeline Consortium Project (CPC) connects Tengiz field reserves to Russian Black Sea port Novorossiysk
Baku-Tbilisi-Ceyhan oil pipeline (BTC) It runs from Azeri-Chirag-
Guneshli oil field till the Ceyhan port in Mediterranean Sea
The Azerbaijani-Turkish Trans-Anatolia gas pipeline project
(TANAP), officially launched on June 26 is impacting a vast field ranging from Turkmenistan, across the South Caucasus and Turkey, to Central Europe and EU authorities in Brussels.
The 3300 kilometers long Nabucco pipeline will go from
Azerbaijan (Shah Deniz field), Egypt, Iraq and Turkmenistan through Turkey, Bulgaria, Romania and Hungary to Austria-
Nabucco-West (28June)

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Caspian Energy resources are tentatively important for Black
Sea energy security feasibility of transit capacity due to its role in the development of Southern Gas Corridor
Legal issues about access over fishing, mineral resources and waters of the Caspian Sea Basin is important obstacle on the way of exploring Gas and Oil reserves and it needs to be overcome through the negotiation
The most likely scenario for bringing Caspian Sea gas to
Europe will be the construction of multiple interconnected pipelines, each owned and financed separately, rather than one single pipeline project

Kristine Margvelashvili