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In this book an author underlines uniqueness of the Caspian Sea, which is by far the world's largest inland water body.The rising importance of this sea is dictated by the number of various economic, geopolitical and environmental factors. The above-mentioned factors are mentioned to underline the controversial character of the regional developments arising out of its importance as an alternative source of hydrocarbons and as a transportation bridge or a hub linking Asia and Europe and at the same time potential global threat to its sensitive environment arising as the possible consequence of its misuse by major oil, shipping and other players. Therefore, it is important to understand that future developments should not take place at the expense of the Caspian marine environment. Based on the principle "safety first" an author attempts to provide the general overview of the best respective legislative practices all over the world with the purpose of researching their applicability in the Caspian Sea.