Obama: Azerbaijan continues to play critical role in global supply of energy (UPDATE)

Politics Materials 1 June 2016 11:25 (UTC +04:00)

details added (first version posted at 10:36)

Baku, Azerbaijan, June 1

By Seymur Aliyev - Trend:

Azerbaijan continues to play a critical role in the global supply of energy, says US President Barack Obama's message addressed to the participants of the 23rd International Caspian Oil & Gas Exhibition and the 6th Caspian International Power and Alternative Energy Exhibition.

The events kicked off in Baku on June 1.

"These past 20 years had been a transformation time for Azerbaijan - politically and economically," President Obama's message said. "Throughout this period, the US has worked very closely with the government of Azerbaijan in the energy sector."

"Azerbaijan continues to play a critical role in the global supply of energy and is a reliable partner in our common goal of increasing regional diversification, market competition and energy security," President Obama's message said.

According to Obama's message, in today's environment, diversification of energy supply remains as vital as ever.

"Over the past year, Azerbaijan and its partners have achieved significant milestone in making the Southern Gas Corridor a reality," President Obama's message said.

"The continued cooperation between Azerbaijan and its international partners will ensure the competition of this significant project," President Obama's message said. "And the US stands ready to assist and continue to underscoring importance of the Southern Gas Corridor with our international partners."

The Southern Gas Corridor is one of the priority energy projects for the EU. It envisages the transportation of 10 billion cubic meters of Azerbaijani gas from the Caspian Sea region to the European countries through Georgia and Turkey.

At the initial stage, the gas to be produced as part of the Stage 2 of development of Azerbaijan's Shah Deniz field is considered as the main source for the Southern Gas Corridor projects. Other sources can also connect to this project at a later stage.

As part of the Stage 2 of the Shah Deniz development, the gas will be exported to Turkey and European markets by expanding the South Caucasus Pipeline and the construction of Trans-Anatolian Natural Gas Pipeline and Trans-Adriatic Pipeline.