Azerbaijan, Baku, 15 November / Trend , corr. S.Aliyev/ The 4th Energy summit finished in Baku. The summit stated that 'the Caspian region is one of the huge centres of development of hydrocarbon resources and transport of energy carriers to international markets and takes an important part in the Euro Asian Oil Transporting Corridor.
The implementation of the meeting in Baku reaffirms the oneness of the Caspian region in ensuring of energy security in Europe and Azerbaijan's fundamental role in the process.
One of the most important outcomes of the summit was the adoption of a declaration, to which the European Commission and nine countries of the European Union joined.
Another important point in the declaration was to establish the Caspian-Black-Baltic Seas energy transit union combining efforts of member-countries in order to provide conditions for trustful and security hydrocarbon transportation. In particular, the sides supported the use of the Odessa-Brody oil pipeline in the Euro-Asian Oil Transporting Corridor system for oil deliveries to European markets.
As a result the implementation of the project is expected to be accelerated. Earlier, Azerbaijan voiced readiness to deliver about 470,000 tons of oil to conduct technical work on the pipeline. According to the Ukrainian President Victor Yushchenko, the feasibility study of the project will be completed designed the next month. So, since 2009, the implementation of the project will start.
At the summit, which was attended by a delegation from Kazakhstan, the oil transportation via the Baku - Tbilisi - Ceyhan (BTC) pipeline from Kazakhstan was supported. The signing of an agreement on the establishment of the Caspian oil transportation between Azerbaijan and Kazakhstan has become a relevant event during the summit. . The agreement on the establishment of the Caspian oil transportation system (KCTS) defines the principles for the joint implementation of the Trans Caspian project and foundation of a joint project company. At the first stage of the system 500,000 barrels of oil per day will be transported, and the capacity will be increased to 750,000-1.2 million barrels per day in the next stages. The project is expected to be completed to 2012.
Today, Europe is seeking to diversify energy supplies to markets. According to estimates of European experts, the dependence of Europe on supply from sources outside of the European Union will be increased significantly in the near future. EU seeks to diversify these sources to provide the energy security. Most of the countries that are now dependent on oil and gas from outside of Europe, are in relatively close distance from the Caspian region, which already has a modern and extensive infrastructure to supply and abundant energy. Hence the importance of this region in the supply of energy can not be overstated.
The crucial issue of the process is the route of delivery. Currently, the only route to diversify supplies from the Caspian region, is the Trans Caucasian corridor, in particular Azerbaijan with modern infrastructure.
The participants of the Baku summit pointed out the interdependence of all sides, which were involved in the process. Diversification is important both for consumers and for supplying and transiting energy to markets.
According to experts, member-countries supplies need first off all meet needs of countries through which they transport the energy, before they deliver gas to markets in Europe. The idea was confirmed once again at the conclusion of the summit, when a five-year agreement on delivery of Azerbaijani gas to Georgia was achieved between Georgia and Azerbaijan. The agreement was signed between the SOCAR company and the Georgian Energy Ministry.
The Baku Energy summit once again demonstrated the commitment of Europe to diversify energy supplies to markets, primarily through the Caspian region. The role of Azerbaijan, which has an extensive experience and capabilities in this process can be seen as fundamental