Caspian Region to Play Key Role to Provide European Market with Oil: EU

Oil&Gas Materials 10 September 2008 10:36 (UTC +04:00)

Azerbaijan, Baku, 10 September / Trend corr. A.Badalova/ The Caspian region will play a key role to meet the oil demand of Europe, head of the European Commission Department for International Energy Loran Muschel said at an international conference Oil & Gas Potential of Azerbaijan and Turkmenistan on 9 September.

According to Muschel, domestic oil production in Europe will be falling. Oil demand growth will rise in the region by 50mln tons by 2020.

"The Caspian region will play a key role in this context," he said.

The EU representative noted Europe's adherence to diversification and voiced a wish to closely cooperate with Azerbaijan.

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