Central Asia Emerges As Strategic Energy Player Amid Oil Crisis 24.03.2026

The global energy market is experiencing severe disruption due to the US-Israeli war with Iran, which has effectively closed the Strait of Hormuz, impacting 20% of global maritime trade and a third of LNG. Israeli strikes on Iranian gas facilities and Iranian retaliatory attacks have paralyzed tanker movements, causing Brent crude to surge to $116.38 per barrel and European natural gas prices to jump. This scarcity threatens crop production and risks famine in Asia, Africa, and Latin America. In this context, Kazakhstan and Turkmenistan have emerged as strategic energy players. Turkmenistan, with 19.5 trillion cubic meters of proven natural gas reserves, could rapidly supply Europe via the Southern Gas Corridor by connecting existing offshore terminals to Azerbaijan's infrastructure, a process estimated to take only months. Kazakhstan, possessing 30 billion barrels of oil, faces longer-term infrastructure constraints, with 80% of its exports relying on the Caspian Pipeline Consortium through Russia, a route vulnerable to attacks. Turkmenistan's President Serdar Berdymukhammedov is scheduled to visit Brussels to discuss energy cooperation with the European Union, highlighting the region's growing importance.














