CASPIAN SEA STATES STRIKE DEAL OVER CONTROLLING PIPELINES AND SEABED RESOURCES
September 1st, 2018
AN AGREEMENT between the five countries bordering the Caspian Sea could help unlock oil and natural gas reserves under its waters. Russia, Iran, Kazakhstan, Turkmenistan and Azerbaijan have struck a convention on controlling this landlocked body of water. And while, geologically, this is the world’s largest lake (by surface area), the five governments have effectively decided to regulate it as a sea, giving them exclusive economic rights over the waters up to 15 miles from their coasts. It also laid down how agreements would be made over seabed and subsoil ...
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