The Caspian Sea region is rich in oil and natural gas and can
potentially become a major energy supplier. Despite the interest of
the three Caspian countries of Azerbaijan, Kazakhstan, and
Turkmenistan, their energy resources have remained mainly
undeveloped a decade after their independence. The main factor that
has prevented the full development of the Caspian energy resources
has been the difficulty of selecting long-term safe, reliable, and
economically viable export routes. The three landlocked Caspian
countries have no choice but to depend on their neighbors to access
international waters for their exports. For many reasons, including
internal stability and extensive oil facilities and pipelines, Iran
offers the most suitable routes to all three Caspian countries.
However, despite the interest of the Caspian energy-exporters, in
using this route, the U.S. policy of containment of Iran has
prevented them from doing so. For political, economic, and security
reasons, the existing in-use Georgian and Russian routes cannot and
will not be a long-term solution for energy exports. The insistence
of the American government on imposing the expensive and unreliable
Turkish route on the reluctant Caspian energy-exporters and its
categorical rejection of the Iranian route have created a major
obstacle to the development of the Caspian energy industries.
As Peimani suggests, if this policy continues, many oil and gas
exporters will opt for the Iranian route without regard to existing
U.S. punitive legislation. The results could well be the isolation
of the U.S. in the Caspian region and a gradual exclusion of
American oil companies from the region. This overview will be of
interest to scholars, researchers, and policymakers involved with
economic and political issues of the region.
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