‘Caspian Sea Legal Status’ meeting kicks off in Baku
A number of issues arising from the Convention, including the maritime borders of the five states will be discussed in the two-day meeting.
The participants will also focus on other issues including the results of the Fifth Summit of the Heads of the Caspian littoral States in Aktau.
On August 12, 2018, the "Convention on the Legal Status of the Caspian Sea" was signed in Aktau, Kazakhstan and the Communiqué of the Fifth Caspian Summit was adopted.
Based on these documents, in order to effectively implement the Convention and review cooperation issues in the Caspian Sea, the High-Level Working Group for the Caspian Sea has been established as a regular five-sided consultation mechanism consisting of authorized representatives of the Caspian littoral states.
The Caspian Sea contains more than 50 billion barrels worth of oil and huge deposits of natural gas, while last year's agreement divides only the surface and not the seabed that contains those deposits. As such, questions remain over the long-term viability of the agreement.