Nicholas Newman Pipeline Gas Journal June 2015
The Caspian region of Central Asia is one of the world’s most important oil and gas-producing regions. Until recently, Caspian gas traveled thousands of miles via largely Soviet-built pipelines to eastern Russia where a portion of it was re-exported to Europe at two and even three times the purchase price.
Since 2010, however, newly built pipelines have carried natural gas east to China, which receives about 50% of Caspian gas exports, surpassing Russia and Europe’s share 26% and Iran and Turkey take of 24%.
The newly independent governments of Azerbaijan, Kazakhstan, Turkmenistan and Uzbekistan have sought to capture and retain the higher profits from increasing their share of gas exports through newly constructed pipelines to China, Iran and Turkey, thereby reducing Moscow’s market and political influence over the region. http://www.pgjonline.com/caspian-region%E2%80%99s-newly-independent-nations-look-higher-gas-profits