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Azerbaijan and Austria Sign Protocol on Intentions in Energy Sector

Oil&Gas Materials 20 September 2007 18:44 (UTC +04:00)

Azerbaijan, Baku / Trend corr A. Badalova / Azerbaijani Industry and Energy Minister, Natig Aliyev and Austrian Federal Economy and Labour Minister, Martin Bartenstein signed a protocol on intentions in Baku.

According to the Azerbaijani Ministry, in the protocol the parties state that construction of the Nabucco gas pipeline is an important condition for transportation of natural gas from Azerbaijan to Europe.

According to the parties, the Azerbaijan State Oil Company's possible participation in Nabucco would be an important step in deepening relationships between Azerbaijan and Austria, as well as for Europe's energy security.

The Ministers stated that Azerbaijan could play an important part as a tranport country.

Intentions of the Austrian OMV and EVN companies to take part in Azerbaijan's energy projects were reflected in the protocol.

Cooperation in economics and energy, joint projects, energy security, policy of European neighbourhood, and the 'Baku Initiative' of the EU were discussed at the meeting between the Ministers.

Bartenstein said Vienna would back the initiative for transportation of Kazakhstan and Turkmenistan's energy resources via Azerbaijan.

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