New moves in NABUCCO direction

Azeri Industry and Energy Minister Natik Aliev stated in a recent interview that the EU,Azerbaijan and Turkmenistan are preparing documents to sign confirming the creation of a so called southern natural gas corridor. One of those documents will be regulating the rights and responsibilities of the Turkmen and Azeri sides concerning the implementing of the gas pipeline project. On March 4, 2011 Azerbaijan's parliament ratified the declaration on the southern natural gas corridor. The declaration had been signed between Azerbaijan and the EU. However there is a serious legal issue to be overcome. Azerbaijan and Turkmenistan claimed that they have a sovereign right to put a gas pipeline on the bed of the Caspian Sea whereas Iran, as well as Russia and Kazakhstan, are not happy about such a move even though they have not publicly said they are against it. So this issue is likely to be the cause of some disagreement in coming months.