The Central Asian/Transcaucasian region has the potential to become a significant producer and exporter of oil and gas. Estimates of its reserve base are on the scale of the North Sea. Over the next decade, as world oil demand continues to grow, the region will gain in importance by helping to diversify the sources of oil and gas for importing countries beyond traditional supply sources, including the Middle East. This comprehensive study provides detailed descriptions, data and analysis of the oil and gas sectors of Azerbaijan, Kazakstan, Turkmenistan and Uzbekistan. It examines the potential for oil and gas production and exports, as well as technical, legal, financial and other barriers to fulfilling this potential. It also looks at export markets, investment frameworks and major investment projects underway and planned.