Future developments on oil and gas transport in the Black Sea region

The Black Sea region lies at the crossroads of major oil and gas export flows to the world energy markets. Wider Black Sea area is increasingly becoming very important in terms of energy production, transportation and distribution. Last global tendencies in energy field indicate that the Black Sea region plays an important role in formation of new energy map of the Eurasian continent, which in perspective will contain such aspects, as diversification of oil and gas supplies, new routes of transportation of energy sources to the European markets and ensuring security of these projects. The concept of wider Black Sea region implies along with Russian oil and gas resources an increasing role of the energy sources of the Caspian basin with participation of Trans-Caspian countries – Iran, Kazakhstan and Turkmenistan in regional energy projects. The Black Sea region is a strategically important region as well as for own fossil reserves