Introduction 4
Overview of the Region 4
Economic Analysis 4
Global Energy Demand 5
Role of Oil and Gas in the Region 7
Key Players in the Region 7

Oil and Gas Infrastructure in the Region 9
Major Pipelines 9
Oil Wells and Fields 16
Refineries and Other Facilities 19

Region’s Assessment 21
Russia 21
Reserves 21
Production 22
Kazakhstan 24
Reserves 24
Production 25
Turkmenistan 26
Reserves 26
Production 27
Uzbekistan 29
Reserves 29
Production 29
Kyrgyzstan 31
Reserves 31
Production 32
Azerbaijan 32
Reserves 32
Production 33

International Exports 34
Europe 34
Asia-Pacific 35
Other Regions 36

Role of Gazprom 37
Production 37
Major Buyers 38
Failure of Rosneft Merger 40
Gazprom's Financial and Production Problems 41

Policy Framework 43
Energy Policies 43
Russian Energy Policy 43
Energy Policy of Kazakhstan 44
EU Energy Policy 45
Regulatory Barriers 46
Security Concerns and Russian Policy for the Region 47

Future Prospects 48

Appendix 50