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On 16 November in Astrakhan Lukoil president, Vagit Alekperov told journalists that his company will spend over $16 billion over the next decade to develop the country’s Caspian offshore Korchagin and Filanovskii oil and natural gas fields in the Caspian, at the signing of a cooperation agreement with the Astrakhan Region.

Nothing gets oilmen more excited than the idea of building pipelines from exotic, hard to reach places to seaports where the product of their endeavors can be shipped to lucrative foreign markets.

These reveries have been most pronounced with the opening since 1991 the riches of the Caspian Sea basin.

SITUATION: One indirect consequence of the Gulf of Mexico oil spill is the impact it may have on the financing of the many tourism projects that have sprouted along the Caspian Sea. Bordered clockwise from the North by Kazakhstan, Turkmenistan, Iran, Azerbaijan, and Russia, the Caspian Sea is one of the largest bodies of water and an object of strategic ambitions.

Economic Strategy of Turkmenistan

Posted by Oilprice.com on May 3rd, 2010

In April 2010, President Gurbanguly Berdimuhamedov of Turkmenistan made public his newly released “Economic strategy of Turkmenistan: Relying on the people, for the sake of the people.”

The recent crisis and instability in Kyrgyzstan, highlighted the fragility of security and the potential weakness of the political systems throughout the region and exposed new dimensions in the conduct of Kazakhstan’s foreign policy that may well prove pivotal for US energy interests in the Caspian Sea region.

Romania, Azerbaijan, and Georgia on April 13, 2010, took a major step toward the implementation of a substitute energy distribution network to substitute for the US-backed Nabucco strategic gas pipeline complex.

The European Commission added to its economic stimulus program with the largest-ever package of grants to energy infrastructure, including support for the Nabucco pipeline project that will help Europe diversify its sources of natural gas.

Gazprom: Angel or Demon?

Posted by Oilprice.com on January 28th, 2010

Gazprom faces regular opprobrium for its bullying ways of using energy as a pressure and political tool. Seen by some, mostly Russians, as the symbol of a successful and strong Russia, others see it as a dominating juggernaut, economic right arm of the Kremlin implementing, or should we say, imposing its policies by using energy as a weapon.

Energy investing opportunities open up from investors in the Caspian Sea.

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