The Caspian countries may act as balancing suppliers of energy resources, Russian Deputy Prime Minister Alexei Overchuk said at the 3rd Caspian Economic Forum.
The 3rd Caspian Economic Forum is underway in Tehran with the presence of the officials of the Caspian Sea littoral states (Russia, Azerbaijan, Iran, Kazakhstan and Turkmenistan).
He noted that ensuring energy security and the uninterrupted export of energy resources based on mutual benefit is one of the promising joint tasks.
"First of all, we propose meeting each other’s energy needs. The Caspian Five can serve as a balancing supplier of energy resources in periods of seasonal fluctuations in supply and demand, while also fulfilling export commitments," Alexei Overchuk said.
According to the official, it is important to implement joint projects on the development of oil and gas fields in the Caspian region.
