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Vladimir Putin: … in the light of the Ashkhabad accords I would like to propose the following topics for discussion.

First, transportation problems. These have always been important problems for Russia and they remain bottlenecks in our economy to this day. Several bottlenecks in the transportation network can nullify all the efforts in other parts of the system. Transport is a particularly important problem for the Caspian region. It is a zone of cooperation not only for the five littoral Caspian states, but for many other countries whose goods pass through the region. That is why it is necessary to take a thorough look at all of the economic and technological conditions of the North-South Transport Corridor project. As you know, we have signed a corresponding intergovernmental agreement with Iran. Our other partners and neighbours have also evinced a keen interest in this work.

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Second, but no less important, is the development of new hydrocarbon fields. The Caspian region has enormous opportunities for that. We are interested in the most effective operation of the Caspian Pipeline Consortium. It is important that it carry not only Kazakh but also Russian oil to consumers.

Of course, the remaining differences among the Caspian states on dividing lines and terms of exploitation of border fields complicate the activities of energy companies. They impede the economic activities of the oil and gas companies in the region. I repeat, we made substantial progress towards solving that problem in Ashkhabad, but here, in the region, the potential of development must also be tapped. Some of our companies, such as LUKoil, are very active and committed and in general, in my opinion, have been able to build up a good relationship with the partners in the Caspian states. Such activities, of course, merit support on the part of the state.

The third problem is closely connected with the development of subsoil resources – environmental monitoring. It should be particularly strict in the region. I am aware that the company uses very environment-friendly technologies. And tomorrow, together with some of the colleagues attending this meeting, we will be able to visit one of the oil derricks.

However, as practice shows, a growing scale of production often leads to a less demanding approach and a loosening of control over these issues. That is very dangerous and we should prevent such a development.

The next topic for discussion is preserving the biological resources of the Caspian. The Caspian has 70% of the world population of sturgeon fishes, of which 40% are harvested in the Astrakhan region. It is our priceless national heritage. Everybody knows that in the last 30 years we have been squandering these resources and choking them with industrial waste. The regional environment has improved somewhat in recent years. However, illegal fishing has increased to appalling proportions. It continues with the involvement of various levels of government. The latest measures taken in this sphere have failed to turn around the situation.