Azerbaijan plays central part in contributing to global energy supply

Photo: Azerbaijan plays central part in contributing to global energy supply / Oil&Gas

Baku, Azerbaijan, June 3

By Seymur Aliyev - Trend:

Azerbaijan plays a central part in contributing to the global supply of energy, and over the next two years will become a major supplier of gas to Europe, U.S. President Barack Obama's message says.

U.S. Ambassador to Azerbaijan Richard Morningstar read out the U.S president's message during the opening of the 21st International Caspian Oil and Gas Exhibition in Baku on June 3.

"Making the Southern Gas Corridor a reality will require hard work and close co-operation between Azerbaijan and its international partners," according to the message.

The Southern Gas Corridor is a project that will allow Europe to diversify its sources of hydrocarbon supply and strengthen energy security and enable Azerbaijan to get a new market in Europe. The gas to be produced within the second phase of the Azerbaijani gas condensate Shah Deniz field's development is considered as the main source for the Southern Gas Corridor.

"The U.S. sees the completion of this project as an important step towards expanding Europe's gas supplies, and stands ready to assist," Obama's message said.

"Your country's role as an energy supplier will enable the development of the diversified economy, strengthen the rule of law, and raise the living standards of the Azerbaijani people," the message says. "The U.S. values the continued collaboration toward these rules."

The 21st Caspian International Oil & Gas Exhibition, the largest event in the energy sector of the Caspian region, is taking place between June 3 and June 6 at the Baku Expo Center.

Every year, Caspian International Oil & Gas Exhibition gathers leading specialists and leading enterprises in the oil and gas industry to demonstrate advanced technologies for the extraction and processing of oil and gas, transportation and logistics, as well as industry related services.

The exhibition offers an opportunity to discuss trends in the development of the oil and gas market, potential prospects for cooperation in the Caspian region and the development of solutions for energy security issues around the world.

Some 402 companies from 29 countries present their products and services at the exhibition. Famous companies from around the world attend the exhibition. These companies include those which were involved in the Contract of the Century - State Oil Company of Azerbaijan Republic (SOCAR), BP, Statoil, OMV, TPAO, Lukoil and many others.

Local companies comprise 35 percent of the total number of exhibitors, while the total growth of the exhibition has reached 10 percent.

The four day exhibition will also feature a substantial business program. Over 500 delegates from more than 30 countries will take part in the annual conference.

More than 50 representatives of state bodies, leading experts in the oil and gas industry and chief executives of major oil and gas companies from different countries will speak at the conference.

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