The Role of the Caspian Region in World Energy Security and Diversification of Energy Supply

Mamuladze Roman () and Revutska Nataliia ()
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Mamuladze Roman: Dean of Business and Management Faculty, BSMA (Georgia)
Revutska Nataliia: Assistant Dean of Business and Management Faculty, BSMA (Georgia)

Ovidius University Annals, Economic Sciences Series, 2015, vol. XV, issue 1, 179-182

Abstract: In the nearest future the Caspian Sea region will play an increasing role in the Europe energy supply. It became one of the main suppliers of oil and natural gas to the world market. Foreign players show the increased interest to the energy potential of the Caspian Sea. The issue of estimating oil and gas potential of Caspian region has gained international political and economic importance. At the same time "Caspian - Europe" has now not only economic but above all geopolitical contradictions. It concerns the issues of the sea waters and the coastal areas, which are rich in energy resources. Analysis of energy resources data of the region shows the differences in the estimates due to political and economic interests of key players. The potential of the Caspian region in natural gas supply is analyzed in this article. The possibilities of infrastructure diversification of energy supply in the global market are evaluated in this research.

Keywords: energy resources; energy supply; Caspian region; diversification; energy security. (search for similar items in EconPapers)
JEL-codes: Q41 (search for similar items in EconPapers)
Date: 2015
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