Azerbaijan, Baku, June 2 / Trend , S. Aliyev/
Azerbaijan's oil production will total around 45 million tons and gas production 27 billion cubic meters, Azerbaijani President Ilham Aliyev stated in his opening remarks to the annual 16th International Caspian Oil and Gas Exhibition, Incorporating Refining and Petrochemicals on June 2.
"Part of this gas will be injected to layers to maintain pressure," Aliyev said.
He said Azerbaijan possesses gas reserves of 2 trillion cubic meters at least and 5 trillion cubic meters on average.
"Azerbaijan will act as reliable energy partner in the coming years. The country will also be producer and transit country for hydrocarbons. This is thanks to favorable geographical location of the country and presence of modern infrastructure," President Aliyev said.
He said relations in energy sector are built among producer, transit country and consumer. "These relations must be transparent. They must be on the level of market relations in robust competition," the president said.
He said fair price must be offered while sale of energy sources is considered. With regard to transit of energy resources, these relations must be based on international experience.
The president said Azerbaijan has met all energy tasks set for the country.
"Now the country exports gas to neighbor countries. The exports will increase in future. We could completely address the issue of diversification," the president said.
"Oil factor is not our goal, this is simply a way [to achieve goal]," the president said.
The international exhibition that opened today is supported by Azerbaijani Industry and Energy Ministry and the State Oil Company of Azerbaijan (SOCAR). The project is also involves partner companies - ITE Group PLC - Iteca Caspian LLC (Azerbaijan), ITE LLC Moscow (Russia), EUF (Turkey), GIMA (Germany), ITE China (China), ITE Gulf (United Arab Emirates), which attract international companies to the exhibition.
New companies will cover 20 percent of the total area of exposition. Over 40 percent will be covered by global companies, including BP, Itochu, OMV Gas International GmbH, SOCAR, StatoilHydro ASA, Total and TPAO.
A traditional 16th international oil and gas conference will begin on June 3 and run through June 4. The conference will be attended by 450 delegates from 23 countries. Ministers from Azerbaijan, Turkey, Iran, Kazakhstan, as well as officials from ministries and state organizations from the United States, Russia, Germany and the United Kingdom will make reports to the conference.