Caspian Sea Could Become Natural Gas Hub
From Fuel Fix
By Collin Eaton
The Caspian Sea is an ancient oil producer, but its future may be in natural gas.
The commodity that fuels electric power is becoming a much more prominent driver of energy production in the large body of water north of Iran and south of Russia, a region that produced 3.4 percent of the world’s oil supply last year, according to a recent report from the Energy Information Administration.
Since 2006, Azerbaijan and Kazakhstan, which border the Caspian’s west and east coasts, have led a boost in natural gas production in and around the region, where coastal countries extracted a total 2.5 trillion cubic feet of natural gas in 2011. That’s up from about 1.25 trillion cubic feet in 2000 and about 1.75 trillion in 2006.
Each of the Caspian’s coastal countries has sizable discovered natural gas fields, one indication that the region’s energy production growth will come from natural gas in the future, according to the EIA.
By posting your comment, you agree to abide by our Posting rules