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About significance of Russia’s presence in the Caspian Sea Region

If one speaks about the Caspian Sea region as a whole, Russia has been for a long time lagging behind her energetic partners in the Caspian Sea region in starting producing projects. We should not have been stingy and long ago should have started to invest financial resources into them. In the 90-ties I talked about the necessity to invest 2-3 billions US$ in Turkmenistan’s, Kazakhstan’s and Azerbaijan’s projects. In such case our business would have long ago settled steadfastly in these republics. Now one must invest by 3-4 times more but we still lag behind.

I have already pointed out that integration is unthinkable without active cooperation. We without fail must be actively present in the Caspian Sea region and that - owing to investments – is beneficial for our neighbors, too.


I am confident that Russia’s active moves in this direction (with hydrocarbons producers of Central Asia and Azerbaijan coming to a European formula of gas price), entry of Russian companies into production projects of Central Asian states and effective cooperation of Russia with Iran in realization of oil and gas projects - is a very serious phenomenon of modern times that will significantly influence the development of world energy market.