The Black Sea: a fairytale princess

By The Wildcat 15 February 2013 11:30 GMT
Exploration in the Black Sea, offshore Romania. (Petrom) Exploration in the Black Sea, offshore Romania. (Petrom)

A wealth of oil and gas riches lies below the waters of the Black Sea and, while the energy powers-that-be scramble for unproven assets in the Arctic and delve into the Caspian, this largely untouched resource is a story of the moment.

The Black Sea has had a touch of Cinderella treatment, with attention focused on first oil from the Caspian’s Kashagan and on news about which pipeline will ship Azerbaijani gas to Europe. Both events are expected this year.