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Azerbaijanâ€™s energy potential highlighted at Economist summit in Istanbul

31 October 2013 14:26 (UTC +04:00)

Given the subheader of Redrawing the Energy Lines, the subjects under discussion included EU priorities for the energy market; Europe’s energy security; an assessment of the Turkish energy sector; and the development of European infrastructure technologies. The Gala Dinner sponsor was The European Azerbaijan Society (TEAS).

TEAS told APA that speakers at the summit included H.E. Taner Yildiz, Turkish Energy Minister; Michael Hoffmann, External Affairs Director, Trans-Adriatic Pipeline (TAP); Mithat Rende Director-General, Multilateral Economic Affairs and Energy, Turkish Ministry of Foreign Affairs; and Jean-Arnold Vinois, Special Advisor to EU Energy Commissioner Günther Oettinger. The conference came at a pivotal time for Azerbaijan, following the decision by the Shah Deniz Consortium to select TAP as the route to bring Azerbaijani Caspian gas from the end of the proposed Trans-Anatolian Pipeline (TANAP) on the European border of Turkey to Italy. Once TAP is built, 10bn m3 (bcm) each year will go to Europe, with a further 6bcm going to Turkey through TANAP. TAP and TANAP will collectively operate as an integral element of the Southern Energy Corridor, providing energy security for Europe.

Egemen Bagis, Turkish Minister for EU Affairs, thanked TEAS for its sponsorship of the Gala Dinner. He remarked on the special relationship between Turkey and Azerbaijan and espoused the words of the late President of Azerbaijan Heydar Aliyev that “happiness is multiple pipelines.” Lionel Zetter, Director, TEAS, commented: “TEAS is delighted to sponsor such an important event in collaboration with The Economist – a world-famous publication. This summit focuses on Turkey, but reference to the close symbiotic relationship between that country and Azerbaijan – particularly in the light of ratifying the recent energy agreements – was made in virtually every session and speech.”