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Richard Morningstar: â€œMuch depends on Azerbaijan and Turkeyâ€™s reaching agreement on the price of the gasâ€

01 June 2009 15:49 (UTC +04:00)

Morningstar said by developing their hydrocarbon resources and delivering them via diversified routes to markets, Caucasus and Central Asian countries can increase their economic development while bolstering their standing as independent, sovereign nations.
â€œWe call on President Aliyev to continue his strategic views on Azerbaijanâ€™s potential as supplier and transit country in delivering its oil and gas to Europe. Pipelines are ties that bind, and selling Azerbaijani gas to Europe via the Southern Corridor would form strong bond between this country and the West. Moreover, we call on Azerbaijan to continue assisting Turkmenistan in improving its big gas resources and delivering the gas to the European consumers,â€ he said.

Richard Morningstar said Azerbaijan is an important transit country in shipment of Kazakhstanâ€™s oil.
â€œWe hope Azerbaijan will ensure reliable and transparent terms in delivering Kazakhstanâ€™s oil. In the forthcoming five years oil production in the northern part of the Caspian will be increased by 2 million barrels per day, this will make it necessary to increase export potential. Most of this depends on Azerbaijan and Turkeyâ€™s reaching agreement on reliable transportation of Azerbaijani gas at the set prices and in the planned volume. I will discuss this issue here and later in Ankara,â€ he said.