THE EMERGING CASPIAN ENERGY REGIME AND TURKEY'S NEW ROLE

Soon after the disintegration of the USSR, Turkey attempted to take place at the heart of the emerging energy regime of the Caspian by becoming an energy corridor that could ünite the Caspian with the World markets. Nevertheless, Russia and Iran started to become profitable associates not only for Azerbaijan, Kazakhstan and Türkmenistan but also for the multinational companies. In 2003, it became explicit that Turkey's common projects with Kazakhstan and Türkmenistan were either canceled or postponed. Turkey is likely to realize Baku-Tbilisi-Ceyhan oil pipeline project and Baku-Erzurum gas pipeline project. Turkey needs to develop a multilateral cooperation vvhich includes Russia and other littoral states of the Caspian. Otherwise, Turkey's role in the Caspian region will be limited by bilateral relations with Azerbaijan.