The determination of the legal status of the Caspian sea will give impetus to attracting investment for the implementation of large-scale projects. This was reported in the oil and gas company of Kazakhstan "KazMunaiGas" (KMG).
"It is extremely important for KMG that the Caspian States will resolve the issue of the status of the Caspian Sea. This will give impetus to attracting investments for the implementation of large — scale projects, taking into account the special ecological status of the Caspian Sea", - KazMunaiGas notes.
Determination of the legal status of the Caspian Sea should be the starting point for solving most of the problems of the region.
"The adoption of the relevant Convention, as well as various sectoral agreements will lead to the settlement of the legal regime of the Caspian sea, the definition of all the rights and obligations of the Caspian States, which is so necessary for the immediate practical use of the Caspian sea, its resources and the protection of the natural environment," KMG believes.
The company also stressed that "the settlement of the legal status of the Caspian sea is strategically important in the context of ensuring political stability and economic development of the Caspian region, preservation and multiplication of its natural resources and the use of its unique geographical location".
"In particular, new prospects for the effective use of transport and transit potential of Kazakhstan and its neighbors in the Caspian sea will be opened", - RIA Novosti quotes KMG statement.
Among the key priorities of KMG activities were the strengthening of the company's role as a key player in the oil and gas industry of Kazakhstan, as well as the further development of the Caspian shelf both independently and with the involvement of strategic partners.