The analysis of geopolitics and energy security policies in the Caspian region is a challenging research task. This is because of the specific development of international relations in this region and the evolution of its importance in the context of the functioning of the global energy market. Due to its special geopolitical location in central Eurasia and at the junction at the world’s largest trading routes, the region is gaining in importance, both politically and economically in contemporary international relations, and becoming a place where actors involved satisfy the need for energy security.

Could the Caspian Region replace Russia's or the Persian Gulf's immense energy potential with their energy resources? Yunis Gurbanov explores the strategic importance of the region in post-USSR Eurasian policies of major global actors, namely China, the EU, the USA, and Russia, and examines Azerbaijan's, Kazakhstan's, and Turkmenistan's oil and gas resources as alternatives to conventional suppliers. He shows that the Caspian region's resources could serve as alternative energy sources on a global level, mitigating dependence on traditional suppliers and stabilizing energy prices.

Russia is the world's biggest hydrocarbon producer. China is one of the world's largest and fastest-growing energy markets. The two are neighbours. Yet their energy relationship is very thin. Instead, they compete for vast and largely unexplored Central Asian resources. As Kazakh oil and Turkmen gas start flowing to China, Russia's traditional dominance in the region is diminishing. However, the Central Asian states are not passive pawns in a new 'great game'. The EU and the US can help these countries to turn the new energy geopolitics to their advantage.

The Caucasus and the Caspian areas have been a core interest for the main actors of international politics from the Persian Empire to the 21st century Chinese power. However, the internal and systemic constraints that once drove various political powers to compete for the control of the area has changed throughout history. This collective study will focus on issues such as the positional relevance of this region in the major powers’ policies, the peculiar legal status of the Caspian Basin (saline as a sea, closed like a lake), the energy policies of some of the Caucasian countries and the role of these strategic resources as a cause for possible conflicts or, conversely, as effective means for their non-violent resolution. These topics will be examined within nine essays from various fields of analysis, such as political science, legal studies, history and economy to ensure each topic is addressed with the appropriate depth of inquiry.

While intensive cooperation between China and the EU in the fields of energy use and environmental protection is needed, the question remains unanswered how this cooperation could be organized. This book puts the geopolitical implementation of energy security into the context of geo-economic systems in a global scale.

This book provides the first comprehensive analysis of US policy from the perspective of an analyst and scholar from the region. This volume discusses the US energy diplomacy in the Caspian Sea region since 2001. It compares the foreign policy of the Bush, Obama, and Trump administrations, following the changing role of energy in the behavior of the US toward states in the energy hubs of Central Asia and the Caspian Sea. The chapters employ historical analysis, regional analysis, interviews, and case studies to trace the evolution of US interests in the area and posits likely trends for future policy. Topics discussed include: China’s massive Belt and Road Initiative the energy and foreign policies of the Caspian littoral states in comparison with those of China, India, the European Union, and Turkey the escalation of differences among key OPEC members during the Trump era the impact of the oil price war on the US shale industry the spread of COVID-19 and its impact on the oil market Russian and U.S. competition in the EU energy market the US-China trade war and the role of energy in the first phase of the US-China trade deal the energy policy of the incoming US President, Joe Biden Shedding light on the complex geopolitics of the US-Caspian Sea Energy diplomacy, this volume will be of interest to researchers of foreign policy, diplomacy, international relations, and energy policy as well as policymakers and analysts working in related areas.

Published in association with the Stockholm International Peace Research Institute.