It has often been argued that since 1991 Central Asian and Caspian region had become a playground for the New Great Game between the global superpowers. Analysing the geopolitical competition for Caspian energy resources, this article argues that the New Great Game framework has its limitations as it fails to incorporate the active role played by the Newly Independent Caspian (NIC) states. One cannot deny the fact that the strategic competition among the geopolitical powers for hydrocarbon resources of the Caspian shaped the trajectories of the new pipeline routes. At the same time, the NIC states, namely, Azerbaijan, Kazakhstan and Turkmenistan benefited from the competition as they managed to diversify their export options, achieving greater political and economic independence. In the end, the interaction between the NIC states and energy consumers has led to strengthened energy cooperation along the same area where the ancient Silk Road crossed East Asia, Central Asia and Europe. The findings support the theoretical argument of the article, which stipulates that in exploring the developments in the Caspian region both realist and liberal theories of international relations should be applied in conjunction.
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