AZERBAIJAN - The Political Background.Azerbaijan had an oil boom in late 19th century. That it will have another boom in the early 21st century remains to be seen. It has become one of the focal points focal point n. See focus. of the so-called "Great Game", involving the US and Russia, with the Caspian Sea Caspian Sea (kăs`pēən), Lat. Mare Caspium or Mare Hyrcanium, salt lake, c.144,000 sq mi (373,000 sq km), between Europe and Asia; the largest lake in the world. being a zone of high strategic importance. Investments to develop the oil and gas reserves of this zone, including Russia's, could exceed $350 bn by 2010. The capital would include up to $14 bn for oil and gas pipelines and related infrastructure facilities, if all projects under negotiation materialise Verb 1. materialise - come into being; become reality; "Her dream really materialized" materialize, happen hap, happen, occur, come about, take place, go on, pass off, fall out, pass - come to pass; "What is happening?"; "The meeting took place off without . Azerbaijan is a country where the geo-political and economic interests of Russia, the US, Europe, Turkey, Iran and other countries are inter-meshed. Their interests reflect a balance between two power blocs competing for influence in the Caspian: the US and Turkey on the one hand and Russia and Iran on the other. Europe leans towards the US-Turkey bloc, but it is not averse a·verse adj. Having a feeling of opposition, distaste, or aversion; strongly disinclined: investors who are averse to taking risks. to partnerships with Russia and Iran. Each of the countries are vying vy·ing v. Present participle of vie. vying vie for influence in Azerbaijan in its own way. Russia, depending on Soviet era tactics, prevents Baku from going too far in favour of the US. Among other things, it is using the disputed legal status of the Caspian as a lever lever, simple machine consisting of a bar supported at some stationary point along its length and used to overcome resistance at a second point by application of force at a third point. The stationary point of a lever is known as its fulcrum. to make sure Russian energy companies are involved in key ventures. The giant company LUKoil, which has rights to develop most of the Caspian Sea's Russian sector, is involved in several oil development projects in Azerbaijan. The US aggressively pursues its business interests in Azerbaijan. American companies, with Washington backing, use their financial and technological muscles to become the biggest players in the Azeri sector. Apart from the UK/US major BP Amoco, US companies involved in oil development projects in the country include ExxonMobil, Chevron, Texaco, Unocal and Pennzoil. US companies would have been represented in all of Azerbaijan's big E&P projects, had it not been for Washington's ban on involvement in any business which includes Iran. A unit of the National Iranian Oil Co. (NIOC NIOC National Iranian Oil Company NIOC Navy Information Operations Command (US Navy) NIOC Naval Information Operations Command (US Navy) NIOC Northern Illinois Orienteering Club ) is participating in two ventures. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion