So far the foreign companies have invested over $20bn in oil and gas projects in Azerbaijan, Azerbaijani President Ilham Aliyev stated to the opening ceremony of the 13th International Caspian Oil and Gas exhibition and conference 2006 which started in Baku on 6 June 2006.
Aliyev noted that attraction of such investments promote stability and trust in Azerbaijan. The construction of the biggest project on the Baku-Tbilisi-Ceyhan main export oil pipeline is complete in Azerbaijan. However, it is one of the next stages in the development of oil and gas sector in Azerbaijan, President underlined.
Aliyev said that as of experts estimations, in case the world oil prices comprise $50 per barrel Azerbaijans revenues from the development of oil and gas projects will comprise $140bn over the subsequent 20 years.
Perhaps, some changes will be injected soon in the project on Shah Deniz gas condensate development. It is explained with the considerable increase of demand in gas not only in Azerbaijan, but also throughout the world, he stressed.