'Azerbaijan exports 40m tons of oil to world market '

 “Azerbaijan has become one of the rapidly developing countries in the Caspian-Caucasus region and oil centers of the world for its successes gained in its 21 years of independence” said Azerbaijani Minister of Industry and Energy Natiq Aliyev in the 7th General Assembly of the International Conference of Asian Political Parties (ICAPP).

Stressing the role of industry and fuel-energy complex in the development of Azerbaijan’s economic power and international prestige Aliyev noted that 54.9% of Azerbaijan’s GDP is produced by different fields of industry. Mining represents 78%, processing represents 17% of this volume. The last 4.4% of this volume is represented by electric, gas and supply sector.

"Oil production volumes have risen by 5.5 times and gas by 4 times since the 1990s as a result of implemented great investments and modern technologies to this field” the minister added.
Stressing that the transportation capacity of BTC is 1 m barrels of oil Aliyev said that means of 3 oil and 4 gas pipelines the annual volumes of oil transportation have reached 40m tons of oil and 7 bn cubic meters of gas.


/AzerTAc/