Energy minister: US always renders support for Azerbaijan’s energy initiatives

Energy minister: US always renders support for Azerbaijan’s energy initiatives

BAKU, Azerbaijan, Nov. 22

Trend:

Azerbaijani Minister of Energy Parviz Shahbazov delivered a speech at the event entitled "Contract of the Century: Successful Activity for 25 Years", organized by the Caspian Policy Center in Washington, Trend reports referring to the Azerbaijani Ministry of Energy.

“The state officials and business circles from the US, Azerbaijan and other Caspian countries attended the event,” the minister said. "The revenues amounted to $146 billion for 25 years of the implementation of the projects in the oil and gas sector."

Shahbazov said that he appreciates partnership relations with foreign energy companies and the US long-term support in implementation of Azerbaijan’s energy policy.

"The amount of investments in the Azerbaijani oil and gas sector reached more than $100 billion while the amount of the obtained income - $146 billion,” the minister added. “So far, 496 million tons of oil and 163 billion cubic meters of gas have been produced from the Azeri-Chirag-Gunashli (ACG) block of fields."

Shahbazov also emphasized that the US has always rendered support for Azerbaijan’s energy initiatives while the energy sector has always been strategic in relations between Azerbaijan and the US.

"The US strong political support has played a significant role in the implementation of the energy security project - the Southern Gas Corridor," the minister added.

Shahbazov also stressed that US President Donald Trump called the Southern Gas Corridor project as the significant project of the US-Azerbaijan energy cooperation.

US Assistant Secretary of State for Energy Resources Francis Fannon, US Under Secretary of Energy Mark Menezes , as well as representatives of energy companies and state officials from the Caspian countries attended the event entitled “Contract of the Century: Successful Activity for 25 Years”.

The Contract of the Century is a large-scale international agreement on the joint development of three oil fields - Azeri, Chirag and Gunashli in Azerbaijani sector of the Caspian Sea signed on September 20, 1994 in Baku among 11 big companies specializing in oil production and representing eight countries. The contract was called the Contract of the Century due to its great significance.

The Contract of the Century was included in the list of the biggest agreements in the history of independent Azerbaijan, both in terms of the volume of hydrocarbon reserves and the total volume of proposed investments.

The Southern Gas Corridor is one of the priority projects for the EU and envisages the transportation of 10 billion cubic meters of Azerbaijani gas from the Caspian region through Georgia and Turkey to Europe.

The launching ceremony of the first stage of the Southern Gas Corridor was held in Baku on May 29, 2018, while opening ceremony of TANAP was held on June 12, 2018 in the Turkish city of Eskisehir.

The gas from the Azerbaijani Shah Deniz field has already gone through the first segment of the Southern Gas Corridor - from the Sangachal terminal to the expanded South Caucasus Pipeline.

Trans-Adriatic Pipeline (TAP) and Trans-Anatolian Natural Gas Pipeline (TANAP) were connected on the Turkish-Greek border.

COVID-19 cases exceed 8,000 in Israel, death toll at 46
COVID-19 cases exceed 8,000 in Israel, death toll at 46
Israel's health minister tests positive for coronavirus
Israel's health minister tests positive for coronavirus
Over 5,00 cases of novel coronavirus confirmed in Israel — health ministry
Over 5,00 cases of novel coronavirus confirmed in Israel — health ministry
Loading Bars
Latest
Singapore reports 120 new COVID-19 cases
Azerbaijani stars join #Evdəqal (stay home) campaign: Video project by Trend news agency
Georgian textile companies produce significant number of face masks
Production at Iran’s South Pars gas field up
300 medical workers infected with coronavirus in Iran
Wheat harvest starting in Iran
Iran's Sefid-Dasht Company increases production
Georgia receives foodstuff, medical supplies via Batumi port
Iran discloses revenues from kiwi exports
Iran’s Arak Heavy Water Reactor being built in new design
Iran sees growth in agricultural sector
Two patients die from COVID-19 in Azerbaijan
UK coronavirus death toll rises by 621 to 4,934
COVID-19 death toll reaches 360, total cases climb to 8,536 in Africa: Africa CDC
Morocco grants pardon for 5,654 prisoners
Turkic Council Member States show profound spirit of collaboration in fight against COVID-19 pandemic
Swiss coronavirus death toll rises by 19 to 559, cases top 21,000
Senegal's confirmed COVID-19 cases rise to 222, 82 cured
Azerbaijan discloses tax incentives for business entities
Georgia reports 2nd death from coronavirus
NAM member-states do not recognize so-called "elections” in Nagorno-Karabakh
Almost 2,500 more people infected with coronavirus in Iran
Unemployment rate down in Iran
Central Bank of Iran reports increase in exchange checks
Serviceman killed in armed incident in southeastern Iran
More positive coronavirus cases confirmed in Azerbaijan
Iran announces number of generators to be produced on basis of OHVG
Iran to increase output of some products
Rouhani: Low-risk economic activities to start in Iran in several days
Oil products to go on sale in Iran
Gasoline consumption decreases in Iran
Production of Pars Petrochemical Company increases in Iran
Number of oil wells drilled in Iran revealed
Spain's coronavirus death toll rises by 674 to 12,418
Azerbaijan discloses budgetary funds to fight against coronavirus
COVID-19 cases exceed 8,000 in Israel, death toll at 46
Kazakhstan reports 6th Covid-19 death
More coronavirus cases registered in Kazakhstan, total at 569 (UPDATE)
Azerbaijani government to guarantee 60 percent of new loans
Azerbaijan creating new mechanism in construction sector
Banks, insurance companies exempted from making payments in Azerbaijan in April
Import of several products to Azerbaijan to be exempted from customs duties
Azerbaijan to increase limit of electricity provided at preferential tariffs
Azerbaijan prepares video instructions on rules of using sms-permission system
Baku Media Center prepares another video footage to support fight against coronavirus
Azerbaijani State Migration Service presents another video footage related to coronavirus
Russian Expert: New deal of OPEC+ to increase oil price, to be beneficial for Azerbaijan
Iran's gas exports increase
State Border Service: Armenian armed forces fire on vehicles in Azerbaijan’s Gazakh district
Iran's trade turnover with Eurasian Economic Union announced
Greece quarantines second camp after coronavirus case confirmed
India's COVID-19 death toll rises to 77 as total cases reach 3,374
Armenia violates ceasefire with Azerbaijan 22 times
Chile registers 4,161 COVID-19 cases, 27 deaths
United slashes New York-area flights due to coronavirus
Japan reports 367 more cases of COVID-19, 3,506 in total
Saudi Arabia registers 140 new coronavirus cases
Minister: Slovenia sees Southern Gas Corridor as part of strengthening EU's supply security
2 terrorists killed in Tunisia
Brazil lawmakers pass 'war budget' as coronavirus cases top 10,000
Egypt confirms 5 more deaths from COVID-19, 71 in total
Spain to extend state of emergency to April 26 as rise in infections slows
Nineteen killed in shootout in northern Mexico
UK coronavirus death rate to stay high top medic says, as toll passes 4,300
COVID-19 cases in Turkey rise to 23,934
Iraq confirms 58 new COVID-19 cases, 2 more deaths
Heydar Aliyev Center supports France amid COVID-19 outbreak (PHOTO/VIDEO)
Entry/exit to Azerbaijan suspended: Operational Headquarters
OPEC+ ministerial meeting postponed to April 9
SOCAR: 10-15 mbpd output cut is probably implied not only by Saudis and Russia
Restrictions on movement will also be applied to foreigners in Azerbaijan
EU approves coronavirus state support for Portugal, Poland, Greece
Iran's Pars Oil and Gas Company fully operational
Azerbaijan's Finance Ministry talks state budget revenues for 1Q2020
Weekly review of Azerbaijan's precious metals market
Turkey's export to D-8 countries increases
Kazakhstan cancels import duties on various products
Georgia may tighten quarantine after first death from coronavirus
Ministry of Energy: Azerbaijan ready to continue supporting regulation of oil market
Uzbekistan begins disinfection of streets
Azerbaijan confirms 78 new cases of coronavirus
Uranium extracting venture in Kazakhstan to buy electric motors via tender
One more death from coronavirus confirmed in Kazakhstan
Spain's daily coronavirus death toll falls for second day in row
Tehran faced heavy traffic despite social distancing instructions
Rouhani: Iran's social distancing plan to continue
Death toll from coronavirus up in Iran
Import of medical goods to be exempted from VAT in Georgia
Production of Iran's Khouzestan Steel Company increases
Volume of dairy products export via Mazandaran province in Iran disclosed
Proposed 15 million bpd cut should be divided among all, not just Saudi-Russia
Turkmenbashi complex of oil refineries announces tender to buy laboratory equipment
Azerbaijan's Heydar Aliyev Center supports countries where COVID-19 widespread (PHOTO/VIDEO)
Uzbekistan to build large agro-industrial cluster
Saudi or Russia; who will suffer bigger hit in case of deadlock in oil deal?
Georgia confirms first death from coronavirus
Turkey increases export to Turkic-speaking countries
EU and FAO extend registration of agro-contest participants in Georgia
Oil storage tank commissioned at Iran's Kharg oil terminal
Organizational structure of Azerbaijan Insurers Association changes
All news