The Newsletter 62 Winter 2012

New players, rules and conditions for the Caspian energy great game

Frank Umbach

As the International Energy Agency (IEA) warned in November 2010, the world is confronted with “unprecedented uncertainty” for maintaining global energy security, due to the present worldwide economic crisis, the twin challenges of climate change and global energy security, as well as the huge energy demand of Asia and in particular China. According to the IEA’s central scenario, the so-called ‘New Policies Scenario’ of 2011, world primary energy demand will increase by 40 percent between 2009 and 2035, with the non-OECD countries accounting for 90 percent of the projected increase.

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