Caspian neither a sea nor a lake, apparently
An agreement of sorts has been reached on how to carve up the Caspian
The five countries bordering the Caspian Sea have come up with a fudged definition of its status, which while potentially confusing, has at least broken an impasse over how to divide up its waters and seabed. In doing so it could jolt some stalled oil and gas developments back into life. For years, the nations around the Caspian have haggled over whether the world's largest inland body of water should be classified as a sea or a lake. In the end, following a mid-August meeting in the Kazakh port of Aktau, those countries - Azerbaijan, Iran, Kazakhstan, Russia and Turkmenistan—agreed that it should be classified as neither and be subject to a special set of rules. It's not an academic exercis
Also in this section
19 March 2026
The regional crisis highlights the undervalued role of fixed pipelines in the age of tanker flexibility
18 March 2026
Rising LNG exports and AI-driven power demand have raised concerns that US gas prices could climb sharply, but analysts say abundant shale supply and continued productivity gains should keep Henry Hub within a range that preserves the competitiveness of US LNG
18 March 2026
Risks of shortages in oil products may cause world leaders to panic and make mistakes instead of letting the market do what it does best
17 March 2026
The crisis in the Middle East has put LNG’s ability to offer security and flexibility under uncomfortable scrutiny
