Azerbaijan has own policy for multiple direction and diversification of hydrocarbon supplies: Energy Minister (UPDATE)
EDITOR's NOTE: Details have been added after the fifth paragraph
Azerbaijan, Baku, Nov. 14 / Trend A. Badalova /
Azerbaijan has own policy for multiple direction and diversification of hydrocarbon supplies. Scaly work is being done in this regard," Azerbaijani Minister of Industry and Energy Natiq Aliyev said at a press-conference today.
He said that a new export direction of Azerbaijani hydrocarbons is the transportation via the Black Sea. "This is a new direction and it has new form," Aliyev said.
"New prospects and directions are being opened for us," minister said.
The memorandum on mutual understanding in natural gas transportation was signed between Bulgarian company Bulqartransqaz and SOCAR on Friday.
"Azerbaijan has never transported pressurized fluid via special tankers through the Black Sea. It is a new way for Azerbaijan. We will operate and conduct research on this regards. This idea will be studied thoroughly," Azerbaijani Minister of Industry and Energy Natiq Aliyev said.
Minister said that Azerbaijan has another option to deliver hydrocarbons on the world market - South Corridor.
"Speaking about South Corridor, it is not only Nabucco gas pipeline project. It is sure to be important. We wait impatiently for EU actions towards realization of the project. But we consider South Corridor project loosely," minister said.
Nabucco gas pipeline project is worth €7.9 billion. Construction of gas pipeline is planned to be launched in 2011, the first supplies - in 2014. Maximal capacity of the pipeline will hit 31 billion cubic meters per year.
Participants of the project are Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE companies. Each of participants has equal share to the amount of 16.67 percent.
"Presently, problems with power engineering have great importance. Each country solves these problems itself. We have a happy country with resources," minister said.
He said that Azerbaijan cooperates with EU now.
"We strengthen both economic and political relations together with European countries. We try to expand them. As to Bulgaria, we always had good relations with it. We must also expand them in future," minister said.
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