The countries of the Caspian Five (Russia, Azerbaijan, Iran, Kazakhstan and Turkmenistan) can act as balancing suppliers of energy resources.

TASS reports that this was stated by Russian Deputy Prime Minister Alexei Overchuk at the third Caspian Economic Forum.

“We consider one of the promising joint tasks to be ensuring energy security and the uninterrupted export of energy resources based on mutual benefit. First of all, we propose meeting each other’s energy needs. The Caspian Five can serve as a balancing supplier of energy resources in periods of seasonal fluctuations in supply and demand, while also fulfilling export commitments. It is important to implement joint projects on the development of oil and gas fields in the region,” he stated.