Azerbaijan’s appeal to Chinese energy companies is increasingly measurable in ships, tonnes and transit capacity. For instance, cargo moving through the Trans-Caspian route has risen roughly fivefold in seven years to about 4.5 million tonnes, while Azerbaijan’s transport infrastructure is being upgraded to handle much larger flows between China, Central Asia and Europe. That logistics base is now intersecting with the country’s offshore energy potential, giving China National Offshore Oil Corporation (CNOOC) a strategic proposition that extends well beyond access to oil and gas.

The memorandum between Azerbaijan’s Ministry of Energy, SOCAR and CNOOC therefore arrives at a point when the Caspian is becoming more important both as an energy basin and as a link in China’s westward trade strategy. For Beijing, Azerbaijan offers something that few markets in the region can combine in one geography: established offshore production, energy infrastructure, a deepwater commercial........

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