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UK energy minister: Azerbaijani gas should be supplied to Europe as soon as possible (UPDATE)

Oil&Gas Materials 29 September 2011 18:48
Today transportation of the Azerbaijani gas to the European market is an urgent issue, UK Minister of State for Energy and Climate Change Charles Hendry told journalists in Baku on Thursday.
UK energy minister: Azerbaijani gas should be supplied to Europe as soon as possible (UPDATE)

Azerbaijan, Baku, Sept.29 / Trend, A.Badalova /

Updated after second paragraph (first version was posted at 18:03)

Today transportation of the Azerbaijani gas to the European market is an urgent issue, UK Minister of State for Energy and Climate Change Charles Hendry told journalists in Baku on Thursday.

He said this issue requires prompt solution. "The Shah Deniz field is one of the largest gas fields, and it is very important to deliver gas from this field to the European market as soon as possible," he said.

With regards to other sources such as Turkmen and Iraqi gas, the Minister said that these volumes can be realized at a later stage.

The Minister said that Europe, particularly Britain, is interested in ensuring security of energy supplies and in new routes. The Minister said that the main matter in choosing a route is the commercial factor.

Azerbaijan is a country with promising future, said the Minister, and UK attaches great importance to cooperation with it. More than 50 percent of investments in Azerbaijan accounts for the UK, the Minister said.

The delegation also included SHAW Group, which has great experience in the oil refining industry. The Minister said that the company is interested in establishing a joint venture in Azerbaijan, as well as to provide support, including technical, in the construction of new refineries or reconstruction of existing refineries in Azerbaijan.

The Minister said in addition to oil and gas sector, there are many other spheres of Azerbaijan's economy, where there are prospects for cooperation between countries.

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