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Baku hosts 3rd Caspian Oil and Gas Trade and Transport Conference

27 April 2009 12:58 (UTC +04:00)

Baku. Elnur Huseynguluyev - APA-Economics. The 2nd Caspian Oil and Gas Trade and Transport Conference kicked off in Baku on April 27 focusing on the oil and gas transportation to world markets.

The conference will focus on the issues of the macroeconomic aspects of the Caspian region as one of the most significant oil and gas resources and on the analysis of the Caspian hydrocarbons in Europeâ€™s energy balance and diversification of energy corridors.

The event has been joined by Kazakhstan, Turkmenistan, Turkey, Russia, Georgia, Iran and several other European countries along with Azerbaijan.

Azerbaijanâ€™s Minister of Industry and Energy Natig Aliyev talked at large about his countryâ€™s oil policy, saying that Azerbaijan also makes investment in neighboring countries’ oil and gas sectors.

â€œToday, we are exploring all the possible routes for the transportation of Caspian Sea hydrocarbon resources to European markets. Trans-Caspian and Trans-Caucasus corridors might play an important role in the export of hydrocarbon resources of Central Asia and Caspian Basin,â€ he added.

Georgian Energy Minister Aleksandr Khetaguri noted that Georgia has great potential and is interested in transporting Central Asian and Caspian gas to Europe.