BAKU, Azerbaijan, Jan. 9
By Anastasia Savchenko - Trend:
The US has always been an important partner in all Azerbaijan’s initiatives, especially in the development and bringing hydrocarbon deposits to global markets, Azerbaijan’s Energy Minister Parviz Shahbazov told Trend.
Shahbazov was commenting on the issue of partnership between Azerbaijan and the US in the energy sector.
The minister said that the US companies not only participated in the signing of the Contract of the Century, but also supported the development of new technologies in Azerbaijan.
“In December 2019, a memorandum of understanding was signed between Azerbaijan’s state oil company SOCAR and the US Baker Hughes oil and gas company to develop and implement the concept of lean production at wells as part of exploration and production operations,” Shahbazov reminded.
The minister also noted that letters from US President Donald Trump and Secretary of State Michael Pompeo in 2019, support for the Trans Adriatic Pipeline (TAP) project - an important segment of the Southern Gas Corridor, celebration of the 25th anniversary of the Contract of the Century in Washington, and the contacts established by new Energy Secretary Dan Brouillette and other senior officials in Azerbaijan show that the US attaches great importance to cooperation with Azerbaijan in the global energy security policy.
“The US administration regards the Southern Gas Corridor as a project that ensures Europe’s energy security and serves to better integrate the Caspian region into European and global energy markets, and supports the project by presenting it at meetings of the Advisory Council of the project,” Shahbazov added.
In conclusion, the minister said that Azerbaijan’s Energy Ministry is cooperating with the US Department of Energy, which has rich experience, technical capabilities and a modern laboratory in the field of renewable energy.
On Dec. 10 last year, Baker Hughes and the Oil and Gas Research and Design Institute of SOCAR signed a production agreement on localization of oilfield chemicals production using existing SOCAR resources in Azerbaijan.
By implementing global production standards, Baker Hughes and SOCAR will allow domestic operators to access large projects within the country and throughout the Caspian region. This initiative will also bring long-term strategic benefits by facilitating knowledge transfer to expand local production capabilities.
The Southern Gas Corridor project aims to increase and diversify European energy supply by bringing gas resources from the Caspian Sea to markets in Europe.
The Southern Gas Corridor comprises the following four projects: (i) operation of Shah Deniz natural gas-condensate field (SD1 project) and its full-field development (SD2 project), (ii) the operation of the South Caucasus Pipeline ("SCP" project) and its expansion (SCPX project), (iii) the construction of the Trans-Anatolian Natural Gas Pipeline (TANAP project) and (iv) the construction of the Trans Adriatic Pipeline (TAP project).