The Caspian Basin holds strategic importance for global energy security due to its rich oil and natural gas reserves. The main hypothesis of this study is that although the Caspian Basin’s energy resources have the potential to strengthen global energy security, geopolitical competition and security issues in the region limit this potential. This study aims to reveal the role of the Caspian Basin’s energy resources in the global supply, examine the competition between regional actors, and assess the impact of this competition on energy security. Findings show that Russia’s quest for regional dominance and ongoing conflicts, such as the Nagorno-Karabakh issue, have made the energy supply fragile. On the other hand, multilateral pipeline projects, such as the Baku-Tbilisi-Ceyhan (BTC) pipeline and the Trans Anatolian Pipeline (TANAP), offer significant opportunities to diversify Europe’s energy
sources. Ultimately, the Caspian Basin’s ability to effectively contribute to global energy security depends on developing regional cooperation, increasing international support, and strengthening legal and political stability.