Energy Export Potential in the Caspian Region and Its Impact on EU Energy Security
Journal: Periodica Polytechnica Social and Management Sciences
Year: 2017

Energy security has emerged in recent years as one of the cornerstones of the European Union’s (EU’s) foreign policy. The EU is highly dependent on imports of oil and gas, 35 per cent of which comes from Russia. Diversification of energy supplies is thus a key goal for the EU. The Caspian region contains some of the largest undeveloped oil and gas reserves in the world. The intense interest shown by the major international oil and gas companies testifies to its potential. Although the area is un