Oil industry representative Cejka supported this notion of multinational involvement but warned that not all countries would benefit equally.

"Some will be bigger winners than others," Cejka said, explaining that Azerbaijan stands to benefit more than the other nations in the Caspian region.

Carter and Deutch agreed that the biggest impediment to successful use of Caspian oil would be Iran, which borders the region. Oil would most likely have to be pipelined through Iran in order to reach the world market.

"At some point this has to include Iran as well," Carter said. "They have to be part of the solution also."

But the scope of the discussion shifted during the question-and-answer session as panelists were forced to address thornier issues involving the region.

Several audience members stressed the depth of the ethnic strife between Azerbaijan and Armenia, particularly over Nagorno-Karabagh, an Armenian enclave in Azerbaijan.

Joseph Dagdigian, chair of the Armenian National Committee of Merrimack Valley (N.H.), criticized the Azerbaijani government in his question, saying that the nation had committed genocide against Armenians in the country and in Nagorno-Karabagh.