International symposium on energy supply starts in Baku

According to the Azerbaijani Minister of Energy and Industry, Natik Aliyev, Caspian region and Azerbaijan in particular are rich with oil and gas resources and have huge economic and industrial potential, Trend reports.

"These countries will play an important role in the development of the world economy in XXI century and will be major suppliers of the European market in terms of alternative energy resources," he said.

More than 120 multi-national and trans-regional projects are now run in Azerbaijan, including the development and transport of hydrocarbon resources from the Caspian region to the world market, development of Europe- Caucasus-Asia corridors and revival of the Great Silk Route, the minister said. Increase in the effectiveness of the oil-gas fields exploitation, increase of the oil extraction amounts till 30.5 m tons this year, acceleration of the second phase of the Azeri- Chirag – Guneshli field development, start of the Shah-Deniz field exploitation, Baku-Tbilisi-Ceyhan and the South Caucasus gas pipeline, increasing strength of existing and building new electric stations, and improving as a result energy supplies to all the regions of the country are all on the agenda this year.

The total amount of electric energy produced in the country can be increased in 5-7% on the behalf of the alternative energy sources, and in 10% of thermal energy, Aliyev said.

The current symposium in Baku is conducted by the UN Department Commission on economic and social works and the Azerbaijani Ministry of Industry and Energy.

Symposium is held under the name of Baku symposium of energetic effectiveness and consequential development and is dedicated to the effectiveness of the energy supply systems.

Reports on the increase of the energy supplies systems, application of the ecologically clean and economically beneficial technologies of oil extraction by SOCAR, management, modernization and effectiveness of the thermal stations will be presented at the meeting. Representatives of Iran, Russia, Kazakhstan, Turkmenistan, China, Egypt, Qatar, Australia and other countries will report at the symposium. Representatives of the international financial institutions will also be present at the meeting.