EU interests in the Caspian Sea Region including

Contents l l l European Union: Dependence on Imports Physical Infrastructure of the Caspian

UPSTREAM PRESENCE European energy companies involved in E&P in the Caspian Source: Centre for

Transit Routes l Fragile l Security remains a substantial problem l Finding alternate land-sea

Inflows of FDI in Caspian Region Economies, 1993 -2001, mln. US $ Source: UN/ECE

Structure of FDI in 2001, % Source: Azerbaijan in XX Century, State Statistical Committee

EBRD has interests in 13 energy-sector projects and an exposure of € 650 mn

Principal Exports in Caspian Region Economies, 2001

EUROPE’S GAS IMPORTS Source: Centre for Global Energy Studies, London

EU ENERGY CHARTER • Investment Provisions • Transit Protocol

EUROPE IS THE NATURAL MARKET FOR CASPIAN OIL AND GAS Source: Centre for Global

Conclusion l l l The forthcoming EU enlargement will change the energy landscape of

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EU interests in the Caspian Sea Region including FDI and Trade Yelena Kalyuzhnova Director, The Centre for Euro-Asian Studies, The University of Reading, UK ECE/UN Workshop “Trade, business and investment in a wider Europe” 7 April 2003, Geneva

Contents l l l European Union: Dependence on Imports Physical Infrastructure of the Caspian Region European Investment in the Caspian Energy EU-Caspian Trade: The Example of Gas l EU Energy Charter Treaty l

UPSTREAM PRESENCE European energy companies involved in E&P in the Caspian Source: Centre for Global Energy Studies, London

Transit Routes l Fragile l Security remains a substantial problem l Finding alternate land-sea routes is a difficult venture

Caspian Region – Oil Pipelines

Inflows of FDI in Caspian Region Economies, 1993 -2001, mln. US $ Source: UN/ECE Common Database, derived from national and CIS statistics.

Structure of FDI in 2001, % Source: Azerbaijan in XX Century, State Statistical Committee of Azerbaijan Republic. Baku, Statistical Yearbook of Kazakhstan, 2002 ; The Centre for Euro-Asian Studies.

EBRD has interests in 13 energy-sector projects and an exposure of € 650 mn Source: EBRD database.

Principal Exports in Caspian Region Economies, 2001

EUROPE’S GAS IMPORTS Source: Centre for Global Energy Studies, London

EU ENERGY CHARTER • Investment Provisions • Transit Protocol

EUROPE IS THE NATURAL MARKET FOR CASPIAN OIL AND GAS Source: Centre for Global Energy Studies, London

Conclusion l l l The forthcoming EU enlargement will change the energy landscape of the European continent and will have a significant implications for EU energy markets. The opening of new EU gas and power markets to the east will produce main challenges as well as wide opportunities for investment and trade. European energy interests in the Caspian region include: the involvement of European energy companies in the region and a growing interest in the Caspian region as a current and future source of energy for use in Europe itself.