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LONDON (TCA) — A fair division of the Caspian seabed including exploitation rights has been subject to debate for a quarter of a century now, with time and again the governments of littoral states — Azerbaijan, Iran, Kazakhstan, Turkmenistan, and Russia — assuring that they were on the brink of clinching a comprehensive agreement. At the bottom of the dispute is the question whether or not the Caspian waters should be seen as a lake or a sea. In the former case, international law requires a convention signed by all littoral states, dividing the entire waterbed into sections. The sea-option prescribes that each coastal state has authority over the waters down to 20 nautical miles from the shore, beyond which navigation is free and fishing and other exploitation rights should be either unlimited or defined by either bi- or multilateral agreements. Continue reading
BISHKEK (TCA) — Different opinions between the five littoral states of the Caspian Sea — Azerbaijan, Iran, Kazakhstan, Russia, and Turkmenistan — have for many years blocked energy projects and other initiatives planned without the participation of Russia. A proposed agreement announced in January did not materialize and now the littoral states are finding alternative ways directing their traffic to other carriers and ports. The following article by Paul Goble, entitled ‘Collapse of Russian Shipping in the Caspian Puts Moscow’s Regional Strategy at Risk’, originally published by The Jamestown Foundation’s Eurasia Daily Monitor, explains the ongoing situation at various ports and the great decline in traffic through the Russian ports: Continue reading
BISHKEK (TCA) — The three hydrocarbons-rich Caspian Sea states of Azerbaijan, Kazakhstan and Turkmenistan offer an increasingly attractive proposition to companies affected by the slowdown in oil and gas projects activity in the Gulf Cooperation Council (GCC) region, according to new data released by MEED Projects on May 20. Continue reading
BAKU (TCA) — The Asian Development Bank (ADB) on December 7 said it will provide $1 billion in private and public sector assistance to expand Azerbaijan’s Shah Deniz II, one of the world’s largest gas fields. The move would become the first step in creating an alternative for gas deliveries to Europe from the Caspian region. Continue reading
BISHKEK (TCA) — Iran, Russia and Azerbaijan have vowed to work together to prepare the grounds for the construction of a North-South Transit Corridor (NSTC), which is expected to provide a faster trade connectivity between Europe and South East Asia and become a rival to the Suez Canal, Iran’s PressTV news agency reported. Continue reading
ASTANA (TCA) — A regular meeting of foreign ministers of the five Caspian Sea littoral states took place in the Kazakh capital Astana on July 13. Continue reading
