Fineprint crucial to unlocking Caspian Sea's vast resources

Source Public Domain

According to RIA Novosti, President of Russia Vladimir Putin, President of Azerbaijan Ilham Aliyev, President of Turkmenistan Gurbanguly Berdimukhamedov, President of Kazakhstan Nursultan Nazarbayev and President of Iran Hassan Rouhani signed the Convention at the solemn ceremony that took place in Aktau after the fifth Caspian Summit.

The Caspian Sea in Central Asia is the largest inland body of water in the world.

Talks in the port city of Aktau should help ease tensions in a militarised region where the legal limbo has scuppered lucrative projects and strained relations among nations along the Caspian's 7,000-kilometre (4,350-mile) shoreline.

One issue is whether the Caspian Sea should be considered a sea or a lake.

The establishment of USA military bases at the Caspian Sea is "out of question", Kazakh Foreign Minister Kairat Abdrakhmanov told Sputnik."Some representatives of Russian media and expert communities do not have a firm grasp of facts on the real situation regarding the transit of U.S. non-military cargo via Kazakhstan ..."

"We have established 15-mile-wide territorial waters whose borders become state borders", Kazakhstan President Nursultan Nazarbayev told a briefing after signing the Caspian convention.

Its seabed is estimated to hold 50 billion barrels of oil and nearly 8.4 trillion cubic metres of natural gas.

That is why disagreements over how to divide some of its huge oil and gas fields have been numerous - and acrimonious.

Trump calls former aide Omarosa a 'crazed, crying lowlife' and a ’dog’
But instead, as I stated, there was a report that said he has said something like 4,000 lies since he's taken office. She added that the remarks were made in reference to Kwame Jackson, an African American contestant on the show.

Some littoral states have also disputed the ownership of several oil and gas fields, which delayed their development. On occasion, warships have been deployed to scare off contractors hired by rival countries.

The agreement also offers hope for the Caspian's ecological diversity and its depleted stocks of the beluga sturgeon, whose eggs are prized globally as caviar.

Putin also outlined the prospects of cooperation between the Caspian states in the spheres of tourism, ecology and conservation of bio-resources, suppression of drug trafficking as well as prevention and liquidation of emergency situations, the Kremlin said.

According to a 2016 report from German broadcaster Deutsche Welle, Russia's move to enact the ban received the backing of the other four countries around the Caspian Sea.

Between 80 and 90 percent of the world's caviar is sourced from the Caspian, but the numbers have been falling over the past few decades.

Nazarbayev said the convention allows for the construction of underwater oil and gas pipelines as well as setting national quotas for fishing and forbids any foreign military presence.

But it remained unclear to observers whether the convention adopted yesterday would definitely clear a way for the pipeline, and no future dates for further discussion were set, beyond an agreement to cooperate.

Related News:

  • Simona Halep wins epic Rogers Cup final in Montreal

    Simona Halep wins epic Rogers Cup final in Montreal

    Yeah, it's disappointing, but I think this will help me moving forward, getting ready to go into [Cincinnati] and the U.S. At 6-4, Stephens again had her chances but it was Halep who would take the first set with four points in a row.
    Important thing is how well Woods has played, says Ryder Cup captain

    Important thing is how well Woods has played, says Ryder Cup captain

    For the second consecutive major, significant points were up for grabs, but no player from outside the top 8 moved in. Thomas Pieters, who played well in the 2016 defeat, shot back to prominence with a sixth-place finish at the US PGA .

    OMAROSA UNHINGED? Reality villainess targets Trump! Which side are you on?

    Trump adviser Kellyanne Conway appeared on the same show Sunday and said she wouldn't be working for Trump if he was racist. Pierson said flatly, "No Ed, that did not happen", after Ed Henry read Manigault's claims from page 149 of her book.
  • England cricket star Ben Stokes found not guilty of affray

    England cricket star Ben Stokes found not guilty of affray

    They are said to have walked off with Mr Hale and Ali. "I just didn´t want any trouble so I was backing away, trying to retreat". He said his memory of the evening was "incomplete" because of the head injury he suffered when he was knocked out by Stokes.
    Trump Signs Defense Spending Bill Giving 2.6% Pay Raise to US Troops

    Trump Signs Defense Spending Bill Giving 2.6% Pay Raise to US Troops

    The bill is aimed at rebuilding the USA military by authorizing a total of $717 billion for military funding over the next year. The president continued to praise American armed forces, saying "no one on earth can match the strength of the USA military".
    Man arrested, pedestrians injured as car hits barriers at UK parliament

    Man arrested, pedestrians injured as car hits barriers at UK parliament

    Journalists in the area say the crash "looked intentional" and that the auto was driven into the security barrier "at speed". Police patrol on Millbank, in central London , after a auto crashed into security barriers outside the Houses of Parliament.
  • Vienna ranks as most liveable city in 2018 displacing Melbourne

    Vienna ranks as most liveable city in 2018 displacing Melbourne

    Wore-torn Syria saw its capital of Damascus rank last on the list as the country's bloody civil war continues to drag on. Two European cities , Helsinki, Finland and Hamburg, Germany fell out of the top-10 ranks from previous year .
    Aretha Franklin is 'alert and laughing' at home

    Aretha Franklin is 'alert and laughing' at home

    Franklin was awarded the Presidential Medal of Freedom - the highest award for an American civilian - by then-president George W. Woods and others in the neighborhood say Aretha has always truly stuck to her roots.
    Hundreds injured as platform falls into sea at Spanish music festival

    Hundreds injured as platform falls into sea at Spanish music festival

    Radio Galega said 266 people were injured at the O Marisquino festival in Vigo , a town in the Galicia region. The drama happened at the start of the last day of the three-day festival, which is in its 18th year.
  • Highway bridge collapses in Genoa in northern Italy

    Highway bridge collapses in Genoa in northern Italy

    Fire brigade sources said that tens of people have died after a section of a highway bridge in Genoa collapsed on Tuesday. Other images showed a green truck that had stopped on the bridge just yards short of the gaping hole in the road surface.
    Rupee fall due to external factors: Government

    Rupee fall due to external factors: Government

    The rupee has been among the worst performing currencies against the dollar compared with its peers so far this year. Previously, the rupee had dropped 2.4 percent or 148 paise in a single day in August 2013.
    Mystery Blast in Northern Syria Kills at Least 36

    Mystery Blast in Northern Syria Kills at Least 36

    While some attacks have been claimed by Daesh, most are the result of infighting since past year between various other groups. Idlib is the last of four "de-escalation" zones agreed by world powers in 2017 where the rebels still have a major presence.


Most liked

Omarosa: Trump has ‘done nothing’ to stem Chicago violence
On Monday, Manigault Newman released another recording in which Trump appeared to express surprise that she had been fired. Mr Trump said "I don't have that word in my vocabulary, and never have". "White House", he said .

World equities slip on Turkey currency woes
USA officials say National Security adviser John Bolton had met with the Turkish ambassador to Washington on Monday. Erdogan claims that his stance against USA imports is necessary due to the recent collapse in Turkish assets.

Tesla directors: 'No formal proposal' to take company private
The board had confirmed earlier this month that it had "met several times over the last week" to discuss going private. Shares of Tesla slipped $3.15, or less than 1 percent, to $353.26 in early trading Tuesday.

Select Former Trump Aides Receive Monthly Salaries of $15,000
Hogan Gidley, deputy press secretary, said media outlets never took her seriously until she released the tapes. George "Tyrus" Murdoch added that Manigault-Newman is "literally the most despised person in the free world".

Erdogan says Turkey to 'boycott' US electronic goods
Turkish Foreign Minister Mevlut Cavusoglu told reporters that the top US diplomat in Turkey would visit Brunson later Tuesday. Lavrov says that Washington's policies will undermine the dollar's position as the global reserve currency of choice.

Nicki Minaj Successfully Makes Stephen Colbert Blush With Personalized Rap Verse
It's fair to say that " Barbie Dreams " was the song that took all the headlines from Nicki Minaj's new album Queen . While drumming her hand on the table, Minaj raps, "I might f*** Stephen after the show".

Meghan Markle’s mum Doria Ragland is ‘moving to the UK’
The Hollywood couple nearly stole the show when they arrived at Prince Harry and Meghan Markle's star-studded nuptials in May. Harry is on a private working visit to Botswana with his charity Rhino Conservation, Kensington Palace confirmed last week.

Nasa spacecraft heads to sun for closest look yet
The mission is named for Eugene Parker , the physicist who first theorized the existence of the solar wind in 1958. The Parker Solar Probe during final pre-launch processing, its white heat shield visible at the top.

How to stop Google from tracking you on the web
This setting, turned on by default, controls various options for apps and services connected to your Google account . Critics say Google's insistence on tracking its users' locations stems from its drive to boost advertising revenue.

Chad Kelly to replace Paxton Lynch as No. 2 quarterback for Broncos
He's played with poise, he's played with confidence. "We'll move on from that and work on Chicago". He played well Saturday night. "He deserves a chance to be the [second-string] guy right now".

Authorities say firefighter killed battling Northern California
It blew past the previous record set by last December's Thomas Fire near Santa Barbara, exceeding it now by about 14,000 acres. This comes as the River Fire of the two Mendocino Complex Fires has now reached 100% containment.

Florida man charged with manslaughter in 'stand your ground' case
Alleged shooter Michael Drejka, 47, was taken into custody on Monday, the Pinellas County Sheriff's Office said in a statement. Surveillance footage shows McGlockton walking out of the store and shoving Drejka to the ground.

Trade Talks with Mexico Going Well; Canada Should Wait
The President-elect appears to have struck a rapport with Trump after promising to improve Mexico's economy and security when he takes office in December.

Kevin and Keelan Harvick win Consumers Energy 400
Kevin Harvick continues to dominate the Monster Energy NASCAR Cup Series , and he's doing it with company by his side. His season win total (seven) is already a single season career high - with 13 races still remaining on the calendar.

Injuries, suspensions and line-up vs Manchester City
Liverpool undoubtedly look like a stronger side, but have they done enough to close the 25-point gap between themselves and City? Manchester City manager Pep Guardiola says he is relaxed about his team being Premier League title favourites once again.