- The U.S. continues to support multiple, independent and commercially-viable export routes to global markets for Caspian energy.
- The U.S. government encourages Caspian countries to increase regional cooperation to develop energy solutions for the region.
- Southern Corridor energy export routes will give Turkish and European consumers greater freedom of choice, increase competition and bring additional and diverse energy supplies to market, thus augmenting global energy security.
- Since becoming independent in 1991, the former Soviet Republics of the Caspian region have attracted significant international investment in its oil and natural gas reserves, making it an important source of energy exports.
- The Caspian region produces roughly 2.8 million barrels per day (bbl/d).
- The Caspian region has significant natural gas resources, making it an ideal source for diversification of the European market.
- Continued investment by international firms, bringing management expertise and technological advantages, is crucial to expanding energy production and increasing benefits to the host countries.
- Diversity of supplies, suppliers and supply routes is a key component to enhancing global energy security.
Healy Baumgardner, (202) 586-4940