Finance & Investing
News Services
Newsletters
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy
pledge.


advertisement

Crimea: the Oil and Gas Story

change text size
Article title
The recent annexation of the Crimea region could land Russia with substantial Black Sea gas and oil resources off the peninsula's southwest and east coasts.

Russia’s annexation of the Crimea region of Ukraine is the most significant geopolitical event to occur in Europe in a generation. Not since the Kosovo crisis in the late 1990s has the North Atlantic Treaty Organization (NATO) deployed its forces in response to aggression, although this time around NATO is potentially facing a larger and far more technologically-advanced foe than Serbia.

NATO’s recent deployment of troops and materiel to Poland appears to be more a show of the organization’s strength and commitment to its members in the region rather than the beginnings of a conflict.

That Russia has been willing not only to provoke the ire of its partners in the European Union and the United States, but also take the risk (albeit a small one) of a military engagement with the West begs the question of why the Crimea region is so important to it.

Naturally, strategic analysts point to Russia wanting to maintain its sphere of influence in the Eastern Europe region – particularly over the countries that neighbor it. And, of course, every good schoolboy historian knows that Russia throughout history has always been very keen to acquire and hold onto “warm water” ports, such as Sevastapol – which is on the southern tip of Crimea and is home to the Russian navy’s Black Sea Fleet.

Yet, plenty of commentators on the current situation point to another key factor about why Crimea might be attractive to Moscow: oil and gas.


123

View Full Article



A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.


More from this Author
Jon Mainwaring
European Editor | Rigzone.com
 -  GDF, BP Make 'Significant' Discovery i... (Oct 23)
 -  What's Going on in Kurdistan? Q&A with... (Oct 20)
 -  North Sea Future: Innovation Needed (Oct 17)
 -  UK's Cygnus Project to Support 4,800 S... (Oct 15)
 -  Faroe Completes Acquisition of Schoone... (Oct 10)
Most Popular Articles
From the Career Center
Jobs that may interest you
Operations Project Manager II
Expertise: Engineering Technician, Project Management
Location: Hugoton, KS
 
Technical Support Manager - Artificial Lift Services
Expertise: IT - Analysis & Management, Operations Manager
Location: Houston, TX
 
Internal Audit Manager
Expertise: Accounting or Finance, Financial Audit
Location: Houston, TX
 
search for more jobs