Rystad Energy: Gas is the new oil in Caspian market

While oil has historically been the main driver of the upstream sector in the Caspian region, that trend is undergoing a major shift. In fact, gas is the new oil here, said Aditya Saraswat, Research Director, MENA for Rystad Energy, in an interview with DC at the 2024 IADC Drilling Caspian Conference in Baku, Azerbaijan, on 9 February. Natural gas will shape the future of upstream activities in this region, with immediate upside opportunities available due to existing infrastructure. In this video, Mr Saraswat also provides his perspective on how this region can become even more competitive for upstream investments, as well as factors he sees as limiters to further growth.