By Stratfor Worldview
Leaders from Russia, Azerbaijan, Iran, Kazakhstan and Turkmenistan have spent over 20 years trying to negotiate a deal over how to manage the ownership of the Caspian Sea and its surrounding areas. On Aug. 12, in the Kazakh city of Aktau, they finally signed a legal convention. But despite the fanfare surrounding the summit, the agreement will not resolve all of these countries’ complex and contentious debates over the Caspian Sea.
Russia, in particular, will work on the sidelines of the agreement to prevent projects like the Trans-Caspian Gas Pipeline from materializing and potentially compromising its energy market position in Europe.