Black Sea Forum for Partnership and Dialogue Black Sea Forum for Partnership and Dialogue The inaugural session of the Black Sea Forum for Partnership and Dialogue (BSF) was held on June 4–6, 2006 in Bucharest. The Forum is a Romanian initiative, initially meant to hold annual presidential-level summits (the venues rotating among participant countries) and thematic or sectoral-cooperation meeting during those annual intervals. The Forum is not meant to create new regional institutions, but rather to turn into a regular consultative process among countries of the extended Black Sea region (defined as including the South Caucasus to the Caspian Sea) and between this group of countries and
Caspian Sea A key problem to further development in the region is the status of the Caspian Sea and the establishment of the water boundaries among the five littoral states. The current disputes along Azerbaijan's maritime borders with Turkmenistan and Iran could potentially affect future development plans. Much controversy currently exists over the proposed Trans-Caspian oil and gas pipelines. These projects would allow Western markets easier access to Kazakh oil and, potentially, Uzbek and Turkmen gas as well. Russia officially opposes the project on environmental grounds. However, analysts note that the pipelines would bypass Russia completely, thereby denying the country valuable transit