Oil in the Caspian Sea
The Caspian Sea, the largest inland body of water in the world, is approximately the size of Japan. In the aftermath of the breakup of the Soviet Union and the birth of new sovereign nations bordering the Caspian Sea, the legal status of the sea has emerged as one of the most contentious international problems facing the region. Prior to the breakup, the agreements concerning shipping, commerce and navigation on the Caspian were between Iran and the Soviet Union. As a result of the breakup, five states now border the sea: Russia, Kazakhstan, Turkmenistan, Iran and Azerbaijan. The discovery of large offshore oil and gas deposits in the area has added urgency to the need to resolve the twin issues of the legal status of the sea and corresponding mining rights. The characteristics of the Caspian have prevented its geological and legal classification. It has alternatively been called a lake, an enclosed sea, a closed sea, an inland sea, a sea and, finally, a “unique body of water.” The labeling is significant because the category determines which body of law applies to who controls the waters and the resources of the seabed.
The Caspian Sea, the largest inland body of water in the world, is approximately the size of Japan. In the aftermath of the breakup of the Soviet Union and the birth of new sovereign nations bordering the Caspian Sea, the legal status of the sea has emerged as one of the most contentious international problems facing the region. Prior to the breakup, the agreements concerning shipping, commerce and navigation on the Caspian were between Iran and the Soviet Union. As a result of the breakup, five states now border the sea: Russia, Kazakhstan, Turkmenistan, Iran and Azerbaijan. The discovery of large offshore oil and gas deposits in the area has added urgency to the need to resolve the twin issues of the legal status of the sea and corresponding mining rights. The characteristics of the Caspian have prevented its geological and legal classification. It has alternatively been called a lake, an enclosed sea, a closed sea, an inland sea, a sea and, finally, a “unique body of water.” The labeling is significant because the category determines which body of law applies to who controls the waters and the resources of the seabed.
THE QUESTION BEFORE THE CONFERENCE WILL BE:
Should the Caspian Sea bed resources be divided:
a. equally between the five Caspian states?
b. in direct proportion to each country’s coastline along the Caspian Sea?
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