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Azerbaijani President: â€œOur currency is growing and now its level reached nearly $35 billion

08 June 2011 03:38 (UTC +04:00)

â€œAs a result of the Baku-Tbilisi-Ceyhan oil pipelineâ€™s commissioning, Azerbaijan could not only enter a new market, but at the same time great incomes were made to the countryâ€™s economy, and we used these funds very efficiently. Activity of the State Oil Fund of Azerbaijan founded in late 1999, is today at the highest level. This is one of the most transparent organizations. The Fundâ€™s activity is highly assessed by various international organizations and the UN. This is a very transparent organization that enabled us to efficiently and equitably use the revenues," President Aliyev said. "As a result, poverty ratio in the country has decreased from 49 to 9 percent over the past seven years. If we did not have such a transparent organization, as the State Oil Fund, we would not be able to achieve these results. It testifies that Azerbaijan equitably distributes the revenues. They are collected and spent very transparently, which consequently influences Azerbaijanâ€™s general image in the world", - President Ilham Aliyev stressed.

He said at a certain stage after commissioning Baku-Tbilisi-Ceyhan oil pipeline there could appear an opinion that Azerbaijan has fulfilled all the tasks and should manage revenues; the country thus realized the diversity policy and might be limited with its achievements. "But we have absolutely different approach. Successes achieved not only in this, but also in other spheres, represent only a stage and a step. We constantly look ahead and plan our moves within the long-term program for the countryâ€™s long-term successful and stable development", - President Aliyev said.

According to Azerbaijani President, the second important issue standing in front of us was to present Azerbaijan not only as an oil country but also as a gas country. Especially when you consider that at that time began to be implemented in 1996 signed a contract for the gas field Shah Deniz in Azerbaijan has been found very large deposits of gas. â€œI can say that at the time the opening of a gas field Shah Deniz did not attract too much attention to this, because then the world, especially in Europe, gas-oil ratio has not been given enough attention. In the next period - a few years ago, we all better understand how great the influence of gas-oil ratio has on the energy security of countries. However, Azerbaijan has taken all necessary measures, and the discovery of gas field Shah Deniz, I can say, has become a very significant event in the world energy market. We are currently building up our energy policy more on gas factor. Since the oil sector, as I said, all projects are implemented. After that we will continue our policy of only maintaining production at a stable level", - the Head of the State said.

Our work on the gas market is much focused. A diversified export infrastructure today and serves the interests of Azerbaijan, and is supporting the neighboring markets.
The President stressed that for the rational use of the rich gas fields require large and reliable markets. Markets, which are governed by the laws of the markets where there is a need for our gas. Azerbaijan is a consistent policy in this direction. â€œWe have several years of conducting a very active policy associated with the Southern Gas Corridor. For several years conducted a serious discussion and, at the same time, concrete steps are taken. Back in 2006 between the EU and Azerbaijan signed a memorandum on cooperation in the energy sector. It was the first step, which is more expressed the intention of both parties. In the subsequent period, Azerbaijan was able to present its gas resources in various international forums. Todayâ€™s proven reserves of gas, we are 2.2 trillion cubic metersâ€, - President Aliyev said.

Azerbaijani President noted that in January of this year between the EU and Azerbaijan signed an important new document - the "Joint Declaration on the Southern Gas Corridor". This declaration is not just an expression of intent. This is a particular document. We are working on this document. Between the European Union and Azerbaijan, a working group that works very efficiently. I hope that soon all the necessary documents will be signed. Thus, we will have a basis for developing a second phase of Shah Deniz. I have no doubt that all of our tasks will be fulfilled. Our past, our history, the experience gained and the political will show that we are in a difficult situation successfully managed to implement more projects that are complex. Therefore, I believe that the future of the Southern Gas Corridor will be a wonderful", - He said.

The President said that at present between Azerbaijan and Turkey are negotiating to resolve transit issues. These negotiations are at final stage. Exactly a year ago - in June last year between Turkey and Azerbaijan signed a protocol on gas transit. In this protocol, covering all the necessary questions. â€œSimply, we hope that in the near future and these are listed in the protocol of articles turn into the final document. Thus, after the signing of a transit agreement, all obstacles to the large Azeri gas will be eliminatedâ€, - Ilham Aliyev said.

â€œSince the last exhibition in the energy policy of Azerbaijan has been several important developments. First - it was signed in January between the European Union and Azerbaijan, the Declaration on the Southern Gas Corridor, and the second - opening of the Azerbaijani oil industry a major gas field Umid. This, above all, indicates that in addition to the Shah Deniz We have other large inventory. Our oilmen and geologists are constantly emphasize that. On the other hand, the value field Umid lies in the fact that it was discovered by Azeri oil industry, the State Oil Company of Azerbaijan. Modern experience of our oil and the experience gained from cooperation with foreign companies have already produced concrete results. In the field of Umid State Oil Company of Azerbaijan is also an investor and operator. The discovery of Umid suggests that lying next to him promising structures also have enough gas. We believe in it. I hope that the next stages of exploration of gas fields in Azerbaijan will continueâ€ â€“ Azerbaijani President emphasized.

President Ilham Aliyev noted that between the European Union and Azerbaijan working group was established. In this group are working together potential investors, consumers and producers.

â€œThus, noting 20th anniversary of our independence, this year, we can say with full confidence that the successes achieved in the oil and gas sector, energy security, could greatly strengthen our country. Azerbaijan is a fully self-sufficient country. Our currency is growing and now its level reached nearly $35 billion. Growing our economy and for the past seven years, gross domestic product grew by three times. In 2003, budget expenditures amounted to 1.2 billion dollars, and in 2011 this figure reached 20 billion dollars", - Ilham Aliyev said.

According to him, pursues a very strong social policy in the country, strengthen the struggle against unemployment, reduced poverty. The industrial potential of the non-oil sector is developing. "I can say that on the basis of all these achievements stands "Contract of the Century" signed in 1994. Because of this, I want to once again express my appreciation to foreign oil companies, who in 1994 believed in us and believed in the future of Azerbaijan. I can say that in recent years between SOCAR and foreign partners have established a business relationship. These relations have a bright future, because, once again I want to say, the successful implementation of the project of the Southern Gas Corridor will also be only the next step for us. We have many plans, we look forward to the future and achievements reinforce those expectations", - Azerbaijani President Ilham Aliyev said.