The Caspian Sea region is one of the world’s oldest oil producing areas, which is expanding and becoming an increasingly important global energy source. The region has significant oil and gas reserves, both in the coastal areas of the Caspian Sea and in onshore deposits in its basin. Whether Caspian countries are able to export more oil and gas depends on how fast domestic energy demand grows in those countries and whether they are able to build additional infrastructure to export to global markets, as well as how the costly projects to develop Caspian resources are able to attract the right amount of capital. It is also a question of the role that Caspian energy resources will play in supplying energy to Europe and Asia in the economic crisis that surely lies ahead.
Keywords: Caspian Sea, oil, energy
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