The post-Cold War period has seen the emergence of the Black Sea as a region of key strategic importance. As a conduit point for energy pipelines, the sea and its surrounding states are inextricably linked with the exploitation of energy resources in the Caspian Sea, the Caucasus, and Central Asia. The heightened risk of ethnic conflict, territorial disputes, and instability has been matched by new opportunities for regional cooperation on pressing economic and ecological matters. What are the prospects for the Black Sea region? This is the first book of its kind to assess the dynamics of inter-regional relations, and to attempt to weigh up the risks and opportunities of the post-Cold War era.