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This report analyzes oil and natural gas in the Caspian region, focusing primarily on the littoral (coastal) countries of the Caspian Sea (Russia, Azerbaijan, Kazakhstan, Turkmenistan and Iran). A discussion of Uzbekistan is also included. While not a Caspian coastal state, a considerable amount of Uzbekistan's territory, along with its energy resources, lies in the geological Caspian basins.

The combination of foreign investment and rising energy prices allowed the coastal countries to shift from diverting oil extraction for local use to supplying both regional and world oil markets. The ability of countries to export greater volumes of Caspian crude oil and natural gas will depend on how quickly domestic energy demand rises in those countries, how quickly they can build additional export infrastructure to global markets, and whether expensive projects to develop Caspian resources can attract sufficient investment. 

The Forum is the first event held in the framework of theDay of Caspian Sea celebration .

"Oil and gas offshore fields' development, which is beingcarried out at difficult geological conditions, increases man-caused impacts on environment of the region and creates real emergencies, including oil spills, as hydrocarbon deposits are located in an ecologically sensitive area of ​​the sea. The consequences of possible industrial accident capable of impacting the territories of neighboring countries", said Bapy.

According to his words, for monitoring of oil fields in thenorth-eastern part of the sea, there was established the North Caspian ecological base for oil spill response. "Ak Beren" blowout response group specialists are annually trained in the UK.