President Aliyev says he’s pleased that Azerbaijan’s role in energy security is reflected in EU documents

President Aliyev says he’s pleased that Azerbaijan’s role in energy security is reflected in EU documents
# 22 July 2015 10:35 (UTC +04:00)

Baku. Malahat Najafova - APA. Azerbaijan and the EU are very good trade partners, Azerbaijani President Ilham Aliyev said on July 22 during a joint press conference with President of the European Council Donald Tusk.

Azerbaijan conducts almost half of its foreign trade with the EU countries which are its main investors, said President Aliyev. “Over 50 percent of investments in Azerbaijan are made by the EU. This economic cooperation should also be applied to other areas. One of the potential cooperation areas is transportation. The railway project is about to end. Thus, Azerbaijan, Turkey and Georgia will unite, the ancient Silk Road will be restored and the trade turnover between the two continents will increase. Azerbaijan, as a transit country, will play an important part in this regard.”

The president said that issues on energy security were also discussed today.

“We are good partner of Europe. The Southern Gas Corridor project initiated by Azerbaijan was presented last year. We are currently working together with the partners, neighboring countries and investors in order to implement this project on time. Azerbaijan's proven gas reserves constitute 2.6 trillion cubic meters. The reserves of Shah Deniz field are over 1 trillion cubic meters. It will supply gas to us over the next ten years. Southern Gas Corridor project is connecting the countries. This is a project that serves the producer, consumer and transit countries. A balance should be provided among the countries. It was reflected in the declaration adopted at the advisory board meeting in Baku in February. Construction of TANAP project was started in March, 2015. We are working timely. Energy security can’t be separated from national security. It is also a project of the energy diversification and covers not only diversification of routes but also sources. Azerbaijan intends to carry out such a mega project through its resources, infrastructure and experience. We are glad that Azerbaijan’s role in this field was reflected in documents of the European Union,” the president completed.

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