Breaking News         Latest US News              New York News              Fx Tribune

Four Things You Need to Check on Your Car Before You Drive Again
After a long dispute, Azerbaijan, Iran, Kazakhstan, Russia and Turkmenistan have set clear maritime borders in the Caspian Sea. Gas and oil are stored in the bottom of the lake.

Oil and gas resources: neighbours agree on the distribution of the Caspian Sea

After a long dispute, Azerbaijan, Iran, Kazakhstan, Russia and Turkmenistan have set clear maritime borders in the Caspian Sea. Gas and oil are stored in the bottom of the lake.

Oil and gas resources: neighbours agree on the distribution of the Caspian Sea

The five countries bordering Caspian Sea have, in principle, agreed on a division of lake that is rich in raw materials. In doing so, y cleared way for greater support for oil and gas in region. Iranian President Hassan Ruhani, however, restricted need for furr collusion in order to precisely divide seabed. The Caspian Sea is largest inland waterway in world.

As Kazakh President Nursultan Nazarbayev explained, States agreed to set up a 15-mile zone as a demarcation of ir respective territories. Ten miles beyond se territorial waters, countries bordering on m would have exclusive fishing rights. It was also stated in Convention that only riparian Parties may be present in Caspian Sea militarily.

Russia, Iran, Kazakhstan, Turkmenistan and Azerbaijan have been arguing about how to divide lake for almost three decades. After collapse of Soviet Union, Iran had proposed to split Caspian Sea into five equally large parts or to jointly develop its entire resources. None of four ex-Soviet states, however, had responded to se proposals.

Many projects stagnated

The dispute has burdened numerous energy projects. This includes, among or things, a pipeline through Caspian Sea, which will be used in competition with Russia to bring natural gas from Turkmenistan to Azerbaijan and furr to Europe. Russia claimed environmental concerns against project. It is still unclear wher project will be concluded after agreement that has now been reached. The grant rights to several oil and gas reserves are also controversial.

Expert Ashley Sherman of consulting firm Wood Mackenzie described signing of agreement as a milestone for region. Now, stalled projects could be picked up again. However, it is not to be expected that this will increase production rapidly, because disputed fields are significantly smaller than already developed giant development areas.

Breaking News Headlines

CSIOS Corporation: The Cyber Insider Threat
CSIOS Corporation: The Cyber Insider Threat
The Top Five Telecommunication Companies in 2018!
The Top Five Telecommunication Companies in 2018!
Can an attorney help you with settling your car accident claim?
Can an attorney help you with settling your car accident claim?
Building Blocks of CRM: Focus on the Features that Matter
Building Blocks of CRM: Focus on the Features that Matter
How You Can Get Your Home Ready To Sell
How You Can Get Your Home Ready To Sell
New Essential Materials in the Automotive Industry
New Essential Materials in the Automotive Industry
What to Fix When Selling Your Home: 7 Things You Should Check and Repair Before Listing Your Property
What to Fix When Selling Your Home: 7 Things You Should Check and Repair Before Listing Your Property
Expecting for Your Second Baby - Know Hidden Facts Here!
Expecting for Your Second Baby - Know Hidden Facts Here!
Reasons to bet with Bet365
Reasons to bet with Bet365
5 Wonderful Ways to Explore Central Park
5 Wonderful Ways to Explore Central Park
Several facts about international shipping services
Several facts about international shipping services
Bank Accounts and their main differences
Bank Accounts and their main differences
POLLS Results ALL
Who is the most powerful actor in Syria

Front Pages
  • The Sun
NEWS ARCHIVES