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ACG extension to contribute to deepening of Azerbaijan-Japan relations, envoy says

22 September 2017 [11:23] - TODAY.AZ

By Trend

The extension of the contract on the development of Azeri-Chirag-Gunashli oil fields in the Azerbaijani sector of the Caspian Sea will make good contribution to the future development of relations between Japan and Azerbaijan.

Japanese Ambassador Teruyuki Katori announced about this while talking to Trend.

Katore pointed out that oil from Azerbaijan doesn't directly come to Japan, but the extension of the contract until 2050 will be very helpful for both countries, as well as the Japanese companies participating in this project.

The PSA on the Azeri-Chirag-Gunashli (ACG) block of oil and gas fields was renewed on September 14.

The Azerbaijan government and the State Oil Company of the Republic of Azerbaijan (SOCAR), together with BP, Chevron, INPEX, Statoil, ExxonMobil, TP, ITOCHU and ONGC Videsh signed the amended and restated agreement on the joint development and production sharing (PSA) for the ACG in the Azerbaijani sector of the Caspian Sea until 2050.

The contract is now subject to ratification by the Azerbaijani Parliament.

Japan was one of the first countries to support Azerbaijan's forward-looking oil strategy. Today two major Japanese companies ITOCHU and INPEX are involved in the Contract of the Century. 

The envoy further said that opening of direct flights between Azerbaijan and Japan will help to boost the tourist flow between the two countries.

“Last year we had only 5,000 tourists from Japan to Azerbaijan. The problem is that we don't have a direct flight. This year we started talks on opening direct flights. After launching direct flights, the number of tourists will increase sharply,” said the ambassador.

Baku hosted negotiations between delegations of aviation authorities of Azerbaijan and Japan in July.

During the negotiations, which were held for the first time between the two countries’ civil aviation administrations, the sides discussed the issues of opening regular flights between Azerbaijan and Japan.

The parties agreed to grant the designated airlines the right to carry out direct passenger and cargo flights, as well as to conclude agreements on the joint use of codes.

Azerbaijan, working hard to develop its tourism sector, now targets on attracting Japanese tourists. In this regard representatives of the major Japan tourism association with more than 10,000 members visited Baku last year.

Diplomatic relations between Azerbaijan and Japan were established in 1992. A number of important projects are being implemented in Azerbaijan through the financial support of Japan.   


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