June 2015, Vol. 242, No. 6

Features

Caspian Regions Newly Independent Nations Look for Higher Gas Profits

The Caspian region of Central Asia is one of the world’s most important oil and gas-producing regions. Until recently, Caspian gas traveled thousands of miles via largely Soviet-built pipelines to eastern Russia where a portion of it was re-exported to Europe at two and even three times the purchase price. Since 2010, however, newly built pipelines have carried natural gas east to China, which receives about 50% of Caspian gas exports, surpassing Russia and Europe’s share 26% and Iran and Turkey take of 24%. The newly independent governments of Azerbaijan, Kazakhstan, Turkmenistan and Uzbekistan have sought to capture and retain the higher profits from increasing their sh

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