About this report
The Black Sea region lies at the crossroads of major oil and gas export streams to the Mediterranean and Western Europe. Energy projects in the Caspian states depend vitally on the possibility of moving oil and gas out of the region. The Black Sea and its riparian states form a vital transit route. This is the first study of the Black Sea region as a whole, its energy needs and how future oil and gas transport in the region could develop. The Black Sea Energy Survey complements the previous IEA study on Caspian Oil and Gas. It reviews the energy policies and sectors of seven countries with diverse energy situations. Azerbaijan is a major oil producer and exporter, Armenia and Georgia are energy-poor, Bulgaria and Romania are EU accession candidates which must restructure their domestic oil and coal industries, while Greece and Turkey are IEA Member states. This study covers energy strategies, institutions and restructuring, as well as recent and projected energy trends in these countries. The book analyses the reforms that are still needed to attract significant investment, both into domestic energy projects and regional energy trade.