US President: Azerbaijanian energy recourses stabilizes the global energy supply ( UPDATE)

(The first version was published at 10:42)

Azerbaijan, Baku, June 4 / Trend S. Aliyev/

Azerbaijanian energy recourses stabilized the global energy supply to markets over the years, US President Barack Obama said in the letter to participants of the 20th anniversary edition of Caspian Oil & Gas 2013 Exhibition and Conference in Baku.

The letter was read by US Ambassador to Baku Richard Morningstar.

"The strong relationship between Azerbaijan and its international partners resulted in major energy projects and transformed Azerbaijan in an important oil supplier to world markets and significant source of gas for the region," the President said.

Obama expressed hope that implementation of the second phase of the Shah Deniz project and the planned Transanatolian pipeline (TANAP) will move Azerbaijan closer to becoming a major gas supplier to Europe as well.

Moreover, Azerbaijan's oil wealth has a potential to support the development of the diversified economy, strengthening the rule of law and raise the living standard of the Azerbaijani people, President said.

Obama also noted that US is a committed partner of Azerbaijan.

"And I look forward to many years of cooperation (with Azerbaijan)," he said.
The largest oil and gas event in the Caspian Region, the Caspian Oil & Gas Exhibition and Conference, takes place in the Baku Expo Center from 4 to 7 June 2013, marking its 20th anniversary.
The exhibition brings together 386 companies from 28 countries, including oil and gas field developers and service providers.
The exhibition is based in three pavilions of the Baku Expo Center and an outdoor space next to the complex. Germany, China, Russia, Turkey and the UK will present national groups.
Compared to last year, exhibition space has grown by 22% and total exhibitor numbers by 25%. 20% of exhibitors are companies that have never come to Azerbaijan's market before, which shows the continued interest in the event, and the annual increase in the share of local companies, which this year make up 30% of all exhibitors, is an encouraging factor and a major achievement.

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