This study examines the geopolitical rivalry over control of the Caspian Sea basin natural
gas resources and the transportation routes among four world powers—Russia, the
European Union, the United States, and China. The author assesses the risks posed by
instability in the Caspian Sea states to the realization of proposed natural gas pipeline
projects in the region. Russia’s role and strategy as a key player in the Caspian Sea region
is analyzed, with a focus on its natural gas reserves and pipeline transportation system,
which it is using not only for economic reasons but for political purposes to regain its lost
status on the international scene. The study also evaluates the impact of individual states’
conflicts of interest on the choice of natural gas transportation routes to Europe.