Azerbaijan, Baku /corr. Trend A.Gasimova / The Odessa-Borda-Plotsk pipeline is a very significant energy project for Azerbaijan which will strengthen possibilities for the regional co-operation between the regions of Caspian, Black and Baltic Seas, said the President of Azerbaijan, Ilham Aliyev, during his speech at the international energy summit in Vilnius (Lithuania).
"Currently we consider the possibility to participate in the Nabucco project which will give an opportunity to Azerbaijan to become a rapidly developing country. We should, together with Europe, plan investment projects. It is possible to achieve successes only on the base of mutual interests of producers and consumers. Not confrontation, but competition should be in existence in the economy. We should work jointly and coordinate our efforts," Ilham Aliyev said.
Azerbaijan commenced its new energy strategy much earlier than the energy security became an important issue in Europe. "Already in 1994, we opened the Caspian Sea for the international co-operation. We established four pipelines within a short period," said the President of Azerbaijan.
Azerbaijan and European Union signed a memorandum on energy partnership which made Azerbaijan and EU closer. " Azerbaijan became a gas exporting country, Azerbaijan's gas is already exported to Georgia and Turkey and in the nearest future, will be transported to the European countries," Ilham Aliyev said.
"According to our accounts, Azerbaijan's gas will cover demands for 150 more years. We have many gas facilities which will be developed in the future," President of Azerbaijan said in his speech.