Caspian Report - Issue 06 - Winter 2014

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POLO MAGRI 134 THE SOUTHERN CORRIDOR RELEVANCE FOR ITALY PAOLO MAGRI DIRECTOR, ITALIAN INSTITUTE FOR INTERNATIONAL POLITICAL STUDIES (ISPI)
Italy is a country with a limited endowment of natural resources, which traditionally had to resort to the international supply of raw materials in order to sustain its economic growth. Italy is a country with a limited endowment of natural resources, which traditionally had to resort to the international supply of raw materials in order to sustain its economic growth. Since the ‘50s – hence even before the disjunction from ownership of energy resources necessary to support economic development became a structural feature for main European economies – the geopolitics of energy supply has been one of the pillars of Italian foreign projection. Indeed, energy policy became one of the main drivers of the Italian foreign policy at different stages during the second half of the last century. Even today, Italian level of dependency on import is about 25 percentage points above the European average: more than 80% of the energy consumed in the country is imported, while the European average is little more than 55%. Moreover, in the case of petroleum and natural gas, this level exceeds 90%, with a slow but steady upward trend. The importance of this data is even more striking in view of two elements: First of all, looking at the national energy mix, oil and natural gas represent approximately 35% each of the total consumption. After setting aside a comeback to nuclear energy, Italian energy mix is bound to change only marginally during the course of the decade, despite the development of renewables. Secondly, the final use of hydrocarbons is becoming increasingly strategic, especially in the case of natural gas. Indeed natural gas-fired power plants account for around 50% of the Italian electricity production and they represent an unavoidable complement to renewable energy sources. Hence, notwithstanding the normal fluctuations in the market, the stability of gas supplies is essential to ensure the production of electricity. However, dependency on external suppliers of fossil fuels does not in itself pose a threat to energy security, at least not as long as the consumer party has access to a sufficiently stable and diversified supply network. Hence openness 135 CASPIAN REPORT, WINTER <strong>2014</strong>
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CASPIAN PUBLISHED BY CASPIAN STRATE
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CASPIAN REPORT 2 Almost two decades
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CASPIAN CASPIAN REPORT 4 06 ALEX VA
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ALEX VATANKA 6 THE CAUCASUS AND THE
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ALEX VATANKA 8 In his own words, Ro
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President of Iran Hassan Rouhani. A
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ALEX VATANKA 12 government would be
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ALEX VATANKA 14
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FINAL INVESTMENT DECISION FOR SHAH
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GARETH M. WINROW 18 ers seeking to
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Shah Deniz 2 FID Signing Ceremony G
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GARETH M. WINROW 22 men gas each ye
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GARETH M. WINROW 24 In practice, it
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GARETH M. WINROW 26 The priority fo
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ROBERT M. CUTLER 28 THE ROLE OF THE
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ROBERT M. CUTLER 30 Günther Oettin
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Taner Yildiz, Minister of Energy an
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ROBERT M. CUTLER 34 Bosnia-Herzegov
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ROBERT M. CUTLER turn could seek en
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ROBERT M. CUTLER 38 AT THE SAME TIM
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ROBERT M. CUTLER 40 had been the fi
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ROMAN RUKOMEDA 42 UKRAINE’S ENERG
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ROMAN RUKOMEDA 44 to lend Ukraine 1
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Maidan Square, Ukraine. ROMAN RUKOM
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ROMAN RUKOMEDA 48 economic crisis c
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ROMAN RUKOMEDA 50 Successful shale
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ROMAN RUKOMEDA 52 develop a LNG ter
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ROMAN RUKOMEDA 54 Additionally, the
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EBRU TURHAN 56 FROM ECONOMY TO DOME
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EBRU TURHAN 58 GERMAN-TURKISH RELAT
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Prime Minister of Turkey Recep Tayy
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in the sectors of energy and water
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EBRU TURHAN 64 (CSU) dropped the us
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EBRU TURHAN 66 Director General of
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European Central Bank , Germany. EB
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TURKISH PETROLEUM MARKET IS RESHAPE
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• Removing the obligation of 60 t
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Turkish Petroleum Corporation. AYHA
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AYHAN ERDEM 76 The supplementary po
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AYHAN ERDEM 78 concerning the natio
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AYHAN ERDEM 80 trations will be abo
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AYHAN ERDEM 82 the Ministry of Scie
Page 86 and 87: ROVSHAN IBRAHIMOV 84 TURKISH-ARMENI
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Page 90 and 91: James Warlick, Deputy Special Repre
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Page 94 and 95: Turkish Prime Minister Recep Tayyip
Page 96 and 97: ROVSHAN IBRAHIMOV 94 region. This i
Page 98 and 99: A monument to the Khojaly victims i
Page 100 and 101: SERGII TOLSTOV 98 THE WEST AND UKRA
Page 102 and 103: SERGII TOLSTOV 100 AFTER TYMOSHENKO
Page 104 and 105: Former President of Ukraine Viktor
Page 106 and 107: SERGII TOLSTOV 104 proposed a way o
Page 108 and 109: SERGII TOLSTOV 106 Emergency parlia
Page 110 and 111: CASPIAN
Page 112 and 113: ENERGY BILL OF TURKEY AND SUSTAINAB
Page 114 and 115: ASSOC. PROF. DR. FATIH MACIT 112 An
Page 116 and 117: EMIN AKHUNDZADA 114 IRAN’S NUCLEA
Page 118 and 119: EMIN AKHUNDZADA 116 • Given that
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Page 122 and 123: MESUT HAKKI CAŞIN 120 TURNING THE
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Page 126 and 127: MESUT HAKKI CAŞIN 124 quality of L
Page 128 and 129: MESUT HAKKI CAŞIN Nuri al-Maliki s
Page 130 and 131: LEGAL AND ILLEGAL MONEY TRANSFERS A
Page 132 and 133: FATIH OZBAY 130 A LARGE PART OF THE
Page 134 and 135: Cathedral of Saint Vasily, Russia.
Page 138 and 139: POLO MAGRI 136 THE OPENING OF SOUTH
Page 140 and 141: CASPIAN CALL FOR PAPERS CALL FOR PA
Page 142: www.hazar.org
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Caspian Report - Issue 06 - Winter 2014

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