'Parting the sea': Caspian littoral states seek boundary disputes' resoljution

A mid-1990s Russian proposal would have created a 20-mile territorial waters zone and an additional 20-mile Exclusive Economic Zone (EEZ) for each littoral state, leaving the center of the Caspian under joint control. The proposal has been largely abandoned, with Russia now negotiating the division of the entire seabed into national sectors.Click here to enlarge imageUncertainty surrounding the legal regime that will eventually govern hydrocarbon development and exports from the Caspian Sea is one of several risk factors that investors have had to consider in doing business in the region. Click here to enlarge imageDespite recent setbacks, however, there are signs that the clouds are ...

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