Details added (first version posted on 10:58)
Baku, Azerbaijan, June 1
Trend:
Implementation of the Southern Gas Corridor project will allow Azerbaijan to bring both gas from the Shah Deniz field and the Azerbaijani gas to be produced on other fields, to the world market, Azerbaijani President Ilham Aliyev said.
The president added that it will allow for the country to fully implement both oil and gas plans.
He made the remarks speaking at the opening of the 23rd International Caspian Oil & Gas Exhibition and Conference and the 6th Caspian International Power and Alternative Energy Exhibition. The events kicked off in Baku on June 1.
The president stressed that currently the Shah Deniz is one of the largest gas fields in the world.
Gas produced at the Shah Deniz field is intended for regional markets, he added.
Of course, speaking about the Southern Gas Corridor project, it's necessary to note the work done in the 1990s, said the president.
That's because if the Baku-Tbilisi-Ceyhan oil pipeline hadn't been built at that time, of course, this corridor wouldn't have been created, either, he said.
The president added that the Baku-Tbilisi-Ceyhan oil pipeline connected the Caspian and Mediterranean seas and formed an energy corridor.
Now Azerbaijani gas will be brought to world markets through this corridor, he said. The president went on to add that one can say that the routes of these corridors are the same to a large extent, and this corridor is currently being transformed into a transport corridor.
By allocating oil revenues to transport infrastructure, Azerbaijan got very important transportation hubs, and the East-West Transport Corridor project is currently being implemented, Ilham Aliyev said.
He expressed confidence that this corridor will be fully commissioned before late 2016, and thus, oil, gas and transport corridors will pass through Azerbaijan. The president noted that Azerbaijan has taken necessary steps regarding the export of electricity, and currently the country exports it as well.
Azerbaijan's geographical location, investments made and thought-out policy, joint activity with partners created this reality, which serves both the Azerbaijani state, its people and ensures interests of neighboring countries, and, on a broader scale, strengthens international cooperation, said the president.
Of course Azerbaijan cannot implement any project without international cooperation, because it doesn't have access to open seas and world markets, said the president.
That's why large funds are allocated namely for construction of oil and gas pipelines, said the president of Azerbaijan.