TODAY.AZ / Politics

Azerbaijani president: SGC - project of common interests, mutual importance

22 February 2019 [11:39] - TODAY.AZ

By  Trend

The Southern Gas Corridor is really a project of common interests, project of mutual importance, Azerbaijani President Ilham Aliyev said.

President Aliyev made the remarks at the 5th Ministerial Meeting of the Southern Gas Corridor (SGC) Advisory Council at the Heydar Aliyev Center in Baku.

“It is part of Azerbaijan’s energy strategy which was launched back in 1994, when Azerbaijan signed an agreement with the Consortium of international oil companies on development of the huge Azeri-Chirag-Gunashli oil field,” he added.

“So that was the beginning of our close cooperation with international energy companies,” the president said. “That was a time when Azerbaijan opened its resources for international cooperation. For the first time, international investments came to the Caspian Sea, and 1994 was actually the turning point in the development of Azerbaijan, because at that time Azerbaijan was a newly independent country. Independence was less than three years, and economic situation in the country was very difficult.”

“So, opening country for investments allowed us to attract multi-billion investments to create tens of thousands of jobs to present Azerbaijan as a country with the good investment climate and then to use benefits of oil and gas development the revenues to diversify economy to build modern infrastructure and now to concentrate mainly on non-energy sector,” President Aliyev said.

“This is our priority but at the same time, energy sector, oil and gas sector in Azerbaijan will continue to be the leading sector of our economy and will continue to be one of the most important elements of regional cooperation,” he said.


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