Baku. Ramiz Mikayiloghlu – APA. “Today is a very important day for Azerbaijan. The foundation of the Southern Gas Corridor will be laid”, President of the Republic of Azerbaijan Ilham Aliyev said at the 20th anniversary of the Contract of the Century and the Southern Gas Corridor groundbreaking ceremony, APA reports.
The head of state said the Contract of the Century has been implemented for 20 years and lead to huge profits.
“BTC has united the Caspian Sea and Mediterranean Sea, this is a historical achievement. The construction of the Trans Anatolian Gas Pipeline (TANAP) was agreed in 2012. Moreover, the choice of TANAP’s route is also a historical event. Agreements on gas export were signed last year. Today all horizons are open before us. We must together ensure the construction of the Southern Gas Corridor”, President Aliyev said.
The president said this project would bring additional dividends to Azerbaijan’s economy, adding that in recent years the budget expenditures of Azerbaijan increased by 20 times and the unemployment rate fell below 5 percent. Azerbaijan ranks 38th place for economic competitiveness.
“Azerbaijan is a major shareholder in TANAP and will take over financial burden. Azerbaijan itself finances its share in the projects of Shah Deniz, TANAP and TAP. There will be no losers following the implementation of this project. This project will play a key role in Europe’s energy supply. Azerbaijan plays an important role in ensuring Europe’s energy security and this role will only grow in the future”, the head of state noted.
President Aliyev noted that the proven gas reserves in Azerbaijan are 2.5 trillion cubic meters, undiscovered – 4 trillion cubic meters.
“Azerbaijan, Georgia and Turkey have participated in oil-gas projects up to now. We are going to enhance our cooperation from today. Italy, Greece, Bulgaria, Montenegro and other countries can join this project in the future. A new international team is being created in oil-gas field. I’m confident that our team will get a victory”, he said.
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