FOOTLOOSE AND…
Know the world’s largest inland body of water? It’s the Caspian Sea. Now the five countries with shorelines on it have divided it.
Yes, the leaders of Russia, Iran, Kazakhstan, Azerbaijan and Turkmenistan recently signed a convention on the legal status of the Caspian Sea. The hope is it will reflect a “balance of interests.”
The new compromise pact on international water divides assignees into territorial zones. Russia is the sea’s main naval power. And you can bet that they will wind up with any possible benefits. The Russians are agreeing to a compromise, surely thinking about the aggressive general stance in the area by China.
The agreement potentially opens the seas for underwater oil and natural gas pipelines. There remain negatives about who installs pipelines, etc.
The proposed Trans-Caspian Sea Pipeline could use exports from the Kashagan Oil Field in Kazakhstan, which is managed by Exxon.
The sea is an area of healthy potential riches. Now watch the Russians go to work.
