Dynamics of Connectivity in the Caspian Sea Region

Exploring the Energy Potential of the INSTC

Abstract

In recent years, the Eurasian region has witnessed growing competition as well as cooperation for connectivity corridors, depending upon one’s perspective. In the G20 New Delhi Summit, Prime Minister Modi announced the launch of the India-Middle East-Europe Economic Corridor (IMEEC). Underlining its importance, Jon Finer (the Biden Administration’s principal deputy national security adviser) emphasised the following three reasons for the construction of the corridor. First, to boost the economy in the countries involved by increasing the flow of energy and digital communications. Second, to assist in addressing the shortage of infrastructure required for growth in low- and middle-income countries. Third, to help ‘cool down’ the ‘turbulence and insecurity’ emanating from
the Middle East. 1 Likewise, similar efforts have been observed with regards to the Caspian Sea region. The 6th International Transport and Logistics Business Forum ‘New Silk Way’ was concluded on October 4, 2023, on the theme “New Trends in Multimodal Transportation on the New Silk Road.” It provided a platform to discuss transport system integration and cooperation, development of the middle corridor, and use of new technologies and innovations in multimodal transport to improve cargo efficiency and delivery. These two recent projects are a few of the latest instances that show the growing global significance of connectivity corridor(s).