Issues related to energy security in the Black Sea-Caspian region involve primarily, but not exclusively, problems and concerns over the transportation of natural gas and crude oil to outside markets. This is a complicated subject which also encompasses various technical, legal and environmental aspects. When discussing pipeline politics commentators often concentrate on relations between the governments of various states. However, one should not overlook the key role played by international energy companies and lending agencies in providing the necessary technical expertise and financial support in order to realize energy projects. This chapter does not discuss specifically the activities of western firms such as BP and Chevron Texaco in the Black Sea-Caspian region, but it is important to bear in mind that without their support major projects such as the Baku-Tbilisi Ceyhan main export oil pipeline and the Caspian Pipeline Consortium's Tengiz-Novorrossik oil pipeline would most probably not have been completed.