12th International Exhibition and Conference Caspian Oil and Gas, Incorporating Oil and Petrochemicals opened

President Ilham Aliyev attended the ceremony, too.

Addressing the meeting first, head of “Speheard Exhibitions” company Suzen Krauch stressed that this exhibition was held in 1994 first in support of the late President Heydar Aliyev and is developing year by year.

Representative of “ITE Group” company Andrew Woods said of the ceremony to be an important event and related it with the care to the Caspian Sea region. According to him, the number of exhibition participants increased 15% in comparison with last year.

Chairman of Azerbaijan Commerce and Industry Chamber Suleyman Tatliyev said of the exhibition to be one of the important events in the world and it gathered 335 companies from 29 countries.

Addressing the ceremony, President Ilham Aliyev stated that the exhibition turned out to be traditional and become an important event in the socio-political life when it took place in 1994 for the first time. Stressing that energy potential began to work for the progress of people of Azerbaijan through attracting foreign investments to the oil sector in the past years, the head of state underlined that oil and gas potential of Azerbaijan played great role in realization of this initiative. The President stated the growth after 1994 caused investment of milliards of dollars capital to the economy of Azerbaijan and oil factor was the foundation of it. Emphasizing the oil factor to be the basis of the development of non-oil sector, the head of state stated this will further be used skillfully to develop the economy of Azerbaijan much more strongly. Emphasizing that the oil infrastructure was established on the basis of modern technology the head of state said the incomes will increase year by year and will serve to the future of Azerbaijani people.

I.Aliyev also stressed the necessity of constructing alternative oil pipelines to export the oil of Azerbaijan to the world market and said that Baku-Tbilisi-Ceyhan (BTC) pipeline was realized by Heydar Aliyev’s resolution.

Stating that the situation in the region will change after the exploitation of the BTC, I.Aliyev called the opening of the pipeline to be the end of important stage and the beginning of the new stage. Stating that the importance of Azerbaijan in the region and in the world will increase more, President said of Baku-Tbilisi-Arzurum gas pipeline to be exploited on time. He said the gas will be transported to European countries. President stated that State Oil Fund was established for managing the oil incomes efficiently and the social welfare of our citizens will improve by this mechanism.

I.Aliyev said of the volume of Gross Domestic Product to increase 18% this year and that it is the highest indication in the world.

The USA Energy Department deputy chairman Castin Swift read the letter by the USA President George Bush to the 12th International Exhibition and Conference Caspian Oil and Gas, Incorporating Oil and Petrochemicals .The letter says that, Azerbaijan achieved great successes in oil and gas sector during the past one year. Stating about the opening of the BTC oil pipeline some days before, the USA President highly appreciated the realization of initiatives for ensuring transparency by the incomes gained from the oil and gas sector. G.Bush underlined that his county will do its best for the prosperity of the people of Azerbaijan. British Prime Minister Tony Blair’s letter addressed to 12th International Exhibition and Conference Caspian Oil and Gas, Incorporating Oil and Petrochemicals was read by British ambassador in Azerbaijan Laurie Bristow. Stressing of 2005 to be an important year in the oil industry of Azerbaijan, the Prime Minister expressed his pride of the role of “bp” company in this matter. Highly appreciating Azerbaijan’s joining the initiative of transparency; the Prime Minister expressed his satisfaction of the activity of companies of Britain in Azerbaijan.

Turkish deputy Minister of energy and natural resources Salih Pashaoglu, Georgian deputy Minister of Energy, fuel and communication Isaak Novruzov also addressed the event. President Ilham Aliyev familiarized with the exhibition after the speeches.

/APA/