Baku, Azerbaijan, Feb. 26
By Maksim Tsurkov - Trend:
Oil prices will begin rising and stabilizing on the global oil markets from 2017, Natig Aliyev, Azerbaijani energy minister, said Feb. 26.
Aliyev made the statement at the meeting with Gordon Birrel, BP regional president for Azerbaijan, Georgia and Turkey, the Azerbaijani energy ministry said.
During the meeting the sides discussed the sharp decline in oil prices on the global oil markets and its causes, the priorities of the future development of the oil producing countries, as well as the areas of cooperation of foreign companies as part of the oil projects.
"The drop in oil prices will not be long," the minister said. "The oil prices will begin to rise and stabilize from 2017."
The sides also discussed the work carried out as part of the Southern Gas Corridor project implementation.
The minister said that the preparation for holding the second meeting of the Southern Gas Corridor Advisory Council has been already completed.
"The energy ministers of the countries, participating in the project, are expected to attend the meeting," the minister said.
"Maros Sefcovic, vice-president for Energy Union, representatives of the International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD), the State Oil Company of the Republic of Azerbaijan (SOCAR), BP-Azerbaijan, TANAP, TAP and other organizations and companies, also plan to participate in the meeting," Aliyev said.
"It will be possible to assess the conducted work, discuss the challenges, faced by all transit countries, and jointly seek the ways of solving them at the meeting," Aliyev said.
The second meeting of the Southern Gas Corridor Advisory Council in Baku is scheduled for February 29.
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