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Azerbaijan
(Last Updated: December 2007)
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Since becoming independent in 1991, Azerbaijan has attracted significant international interest in its substantial oil and natural gas reserves. Foreign investors are helping the country to develop its rich oil and natural gas reserves in the Caspian Sea basin, and construction of new pipelines will allow Azerbaijan to become a significant energy exporter over the next decade.
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Caspian Sea
(Last Updated: January 2007)
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The Caspian Sea region, including the Sea and the states surrounding it, is important to world energy markets because of its potential to become a major oil and natural gas exporter over the next decade. The region is thought to hold the world's third largest oil and natural gas reserves behind the Middle East and Russia. However, several factors threaten to complicate the region's potential, including a lack of adequate export infrastructure, disagreement over new export routes, and border disputes between the littoral states.
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Caucasus Region
(Last Updated: May 2006)
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The Caucasus Region, comprising the newly independent states of Armenia, Azerbaijan, and Georgia, is important to world energy markets as a transit area for oil and natural gas exports from the Caspian Sea to Europe. Although the region has been beset by conflict, regional leaders hope that the development of several oil and natural gas export pipelines will bring peace and prosperity to the Caucasus.
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Central Asia
(Last Updated: February 2008)
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This fact sheet discusses the energy sectors of Turkmenistan and Uzbekistan in greater detail. For more information on Kazakhstan, please see the Kazakhstan Country Analysis Brief.
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Kazakhstan
(Last Updated: February 2008)
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Kazakhstan is important to world energy markets because it has significant oil and natural gas reserves. As foreign investment pours into the country's oil and natural gas sectors, the landlocked Central Asian state is beginning to realize its enormous production potential. With sufficient export options, Kazakhstan could become a major world energy producer and exporter over the next decade.
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Russia
(Last Updated: May 2008)
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Russia is important to world energy markets because it holds the world's largest natural gas reserves, the second largest coal reserves, and the eighth largest oil reserves. Russia is also the world's largest exporter of natural gas, the second largest oil exporter, and the third largest energy consumer.
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Sakhalin Island
(Last Updated: May 2008)
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This fact sheet describes the various parts of Sakhalin Island in Russia that are under development for oil and natural gas.
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Ukraine
(Last Updated: August 2007)
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Ukraine is important to world energy markets because it is a critical transit center for exports of Russian oil and natural gas to Europe, as well as a significant energy consumer in its own right.
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